Apartment Building with Courtyard and
For Sale
$5,850,000
1945 Canyon Blvd, Boulder, CO 80302
MULTI_FAMILY - Contemporary - Boulder, CO
Property Size12,582 SF
Lot Size0.44 Acres
Price / SF$464.95
Days on Market938
Property Features for 1945 Canyon Blvd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi Res
Bedrooms
20
Bathrooms
13
Full bathrooms
13
Rooms
Bedroom 9, Bathroom 13, Bedroom 13, Loft, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 11, Bedroom 2, Bathroom 5, Bathroom 4, Bedroom 7, Bedroom 19, Bathroom 3, Bathroom 8, Bathroom 10, Bedroom 18, Bedroom 8, Bedroom 6, Bathroom 7, Bathroom 9, Bedroom 12, Bedroom 17, Bedroom 10, Bathroom 1, Bedroom 16, Bedroom 20, Bathroom 12, Bedroom 3, Bedroom 14, Bedroom 15, Bathroom 6, Bedroom 5, Bathroom 11
Patio and Porch features
Deck
Interior features
Open Floorplan
Appliances
No Units Furnished
Subdivision
Chamberlains
Lot features
Wooded, Level, Paved, Curbs, Gutters, Sidewalks, Street Light, Fire Hydrant within 500 Feet
Elementary school
Whittier
Middle school
Casey
High school
Boulder
Elementary school district
Boulder Valley Dist RE2
Middle school district
Boulder Valley Dist RE2
High school district
Boulder Valley Dist RE2
Directions
Take Canyon West from 28. Property will be on the right
Standard status
Active
APN
R0006588
Size
12,582 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Year
2022
Tax Annual Amount
27043
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Window Unit(s), Wall/Window Unit(s)
Amenities
courtyard with picnic tables
in wall a/c units
Building Details
Year built
1972
Floors in Building
4
Number of units
12
Building materials
Frame
Roof type
Composition, Rubber
Architectural style
Contemporary
Listing Agency:
RE/MAX Alliance-Boulder · RE/MAX International
(303) 442-3180
Listed By:
Robert Chambers
(720) 201-3031
Added: Jan 17, 2024
Changed: Aug 1
Last Checked: Aug 12 at 1:06AM
MLS# 1001751
Copyright © 2026 IRES MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This contemporary apartment building offers an open floorplan and a courtyard setup with picnic tables. The property includes a deck and cooling through window and wall/window air conditioning units, with baseboard heating. Construction is frame, with a composition and rubber roof. Natural gas is available, and the building is served by public sewer. The property was built in 1972 and totals 12,582 square feet on a 0.44-acre lot.
Located at 1945 Canyon Blvd in Boulder, Colorado, the site is described as being near Canyon Park, within blocks of Pearl Street and 29th Street, and within an easy walk to CU or Naropa. Access to RTD and nearby trails is also noted, along with off-street parking and carport.
Showings require 48 hours notice, with showings allowed between 11:00 AM and 2:00 PM Monday through Friday.
Located at 1945 Canyon Blvd in Boulder, Colorado, the site is described as being near Canyon Park, within blocks of Pearl Street and 29th Street, and within an easy walk to CU or Naropa. Access to RTD and nearby trails is also noted, along with off-street parking and carport.
Showings require 48 hours notice, with showings allowed between 11:00 AM and 2:00 PM Monday through Friday.
Key Highlights
- 12,582 square feet on 0.44‑acre lot
- Courtyard with picnic tables plus off‑street parking and carport
- In‑wall and window AC units with baseboard heat
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$198,261
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.39%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,965,220
$4.0M
Cap Rate 7%
$2,832,300
$2.8M
Cap Rate 9%
$2,202,900
$2.2M
Market Conditions
NOI Build-Up for 12,582 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$377.5K $30.00/SF
− Vacancy
−$17.0K −$1.35/SF
EGI
$360.5K $28.65/SF
− OpEx
−$162.2K −$12.89/SF
NOI
$198.3K $15.76/SF
Area
Boulder, CO
Vacancy
4.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,965,220
Cap Rate 7%
$2,832,300
Cap Rate 9%
$2,202,900
Alternative Uses
Best Use
Apartment 5plus
$2.83M
$2.48M – $3.30M
NOI $198,261 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.25M
$3.72M – $4.96M
NOI $297,620 @ 7.0% cap · market cap 5.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,978
Businesses Nearby
Explore this area
Business Placement
Demographics for 80302, CO
27,322
Population
13,556
Households
2
Avg Household Size
29
Median Age
75%
College-Educated
98%
High-School Grad
93.9 sq mi
ZIP Area
291
Density / Sq Mi
$60,649
Median Household Income
$19,586
Median Earnings
$1,850
Median Rent
$1,123,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Apartment building in Multi Res zoning with courtyard amenities, off-street parking and carport, and in-wall/window AC.
Where is this apartment building located?
The property is located at 1945 Canyon Blvd Boulder, CO.
What is the asking price?
The asking price for this property is $5,850,000.
What are key features of this property?
This property features: 12,582 square feet on 0.44‑acre lot; Courtyard with picnic tables plus off‑street parking and carport; In‑wall and window AC units with baseboard heat
