8-Unit Apartment
For Sale
$800,000
217 Applewood Ct, Brush, CO 80723
Residential Income, Brush, CO
Property Size7,800 SF
Lot Size0.33 Acres
Price / SF$102.56
Days on Market213
Property Features for 217 Applewood Ct
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RESIDENTIA
Bedrooms
64
Bathrooms
32
Full bathrooms
32
Rooms
Bedroom 25, Bathroom 4, Bedroom 13, Bedroom 22, Bedroom 3, Bedroom 23, Bedroom 24, Bathroom 26, Bedroom 15, Bedroom 6, Bedroom 1, Bedroom 9, Bedroom 17, Bedroom 14, Bedroom 16, Bathroom 3, Bathroom 13, Bedroom 32, Bathroom 9, Bedroom 31, Bedroom 46, Bedroom 43, Bedroom 34, Bedroom 5, Bedroom 38, Bedroom 55, Bedroom 4, Bedroom 26, Bedroom 47, Bedroom 20, Bedroom 2, Bedroom 57, Bathroom 1, Bedroom 63, Bedroom 54, Bedroom 36, Bedroom 51, Bathroom 23, Bedroom 64, Bathroom 21, Bathroom 32, Bedroom 18, Bedroom 53, Bathroom 16, Bathroom 17, Bathroom 15, Bedroom 28, Bedroom 62, Bedroom 41, Bathroom 31, Bathroom 6, Bathroom 30, Bedroom 8, Bathroom 25, Bedroom 59, Bedroom 50, Bedroom 44, Bathroom 2, Bathroom 28, Bathroom 18, Bathroom 8, Bedroom 58, Bedroom 29, Bedroom 33, Bedroom 42, Bedroom 61, Bathroom 19, Bedroom 40, Bathroom 20, Bathroom 24, Bedroom 12, Bedroom 30, Bedroom 56, Bathroom 27, Bedroom 21, Bedroom 60, Bathroom 11, Bedroom 10, Bedroom 49, Bedroom 27, Bedroom 48, Bedroom 39, Bathroom 12, Bedroom 52, Bathroom 14, Bedroom 11, Bathroom 10, Bedroom 7, Bathroom 29, Bathroom 7, Bedroom 19, Bedroom 35, Bedroom 37, Bathroom 5, Bedroom 45, Bathroom 22
Parking
16
Interior features
Eat-in Kitchen, Open Floorplan, Kitchen Island
Appliances
Gas Range, Dishwasher, Refrigerator
Subdivision
Brush
Elementary school
Thomson
Middle school
Brush
High school
Brush
Elementary school district
Brush RE 2J
Middle school district
Brush RE 2J
High school district
Brush RE 2J
Standard status
Active
APN
123104210001
Size
7,800 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
6180
Utilities
Utilities
Natural Gas Available
Heating system
Radiant
Building Details
Year built
1999
Floors in Building
2
Number of units
8
Building materials
Frame
Listing Agency:
eXp Realty LLC
(888) 440-2724
Listed By:
Kimberly Austin · License #40030051
(303) 558-2301
Added: Feb 9
Changed: Sep 6
Last Checked: Sep 10 at 11:06AM
MLS# 1051193
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 8-unit apartment property contains 7,800 square feet on a 0.33-acre parcel. Each residence is configured with 2 bedrooms, 1 bathroom, and a full laundry room with hookups. Interior details include eat-in kitchens, open floorplans, and kitchen islands, with gas ranges, dishwashers, and refrigerators provided. The building was constructed in 1999 with frame construction and radiant heat. Natural gas is available, and the property carries RESIDENTIA zoning.
The property is located across from East Morgan County Hospital in Brush, Colorado. Its eight-unit configuration, consistent floorplans, and in-unit laundry infrastructure provide a straightforward multifamily layout for ownership and management.
The property is located across from East Morgan County Hospital in Brush, Colorado. Its eight-unit configuration, consistent floorplans, and in-unit laundry infrastructure provide a straightforward multifamily layout for ownership and management.
Key Highlights
- 8‑unit apartment property with 7,800 square feet
- Each unit includes 2 bedrooms, 1 bathroom, and a full laundry room with hookups
- Situated across from East Morgan County Hospital
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
$70,378
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
8.80%
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%
$1,407,560
$1.4M
Cap Rate 7%
$1,005,400
$1.0M
Cap Rate 9%
$781,978
$782.0K
Market Conditions
NOI Build-Up for 7,800 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
$137.6K $17.64/SF
− Vacancy
−$9.6K −$1.23/SF
EGI
$128.0K $16.41/SF
− OpEx
−$57.6K −$7.38/SF
NOI
$70.4K $9.02/SF
Area
Morgan County, CO
Vacancy
7.00%
Lease Rate
$17.64 /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%
$1,407,560
Cap Rate 7%
$1,005,400
Cap Rate 9%
$781,978
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$879.7K – $1.17M
NOI $70,378 @ 7.0% cap · market cap 8.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.28M
$2.00M – $2.66M
NOI $159,869 @ 7.0% cap · market cap 19.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
Explore this area
Business Placement
Demographics for 80723, CO
7,092
Population
2,746
Households
2.6
Avg Household Size
41
Median Age
17%
College-Educated
87%
High-School Grad
265.5 sq mi
ZIP Area
27
Density / Sq Mi
$74,144
Median Household Income
$41,840
Median Earnings
$1,076
Median Rent
$276,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Eight two-bedroom residences feature one bathroom and full laundry rooms with hookups in every unit.
Where is this apartment building located?
The property is located at 217 Applewood Ct Brush, CO.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 8‑unit apartment property with 7,800 square feet; Each unit includes 2 bedrooms, 1 bathroom, and a full laundry room with hookups; Situated across from East Morgan County Hospital
