Three-Bedroom Income
For Sale
$749,999
Pending
1-828 Cherry St, Denver, CO 80220
Tenant-occupied residence with a rooftop deck, private yard, detached garage, and no HOA fees.
Property Size1,777 SF
Days on Market32
Property Features for 1-828 Cherry St
General Information
Standard status
Pending
Size
1,777 SF
Total Parking Spaces
1
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/3BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$704
Amenities
rooftop deck
private fenced yard
Building Details
Tenancy
Single
Listing Agency:
Resolute, Inc.
Listed By:
Jack Rohr · License #ER100067283
(303) 842-1869
Source:
Exprealty
Added: Aug 7
Changed: Sep 5
Last Checked: Sep 6 at 2:29PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Resolute, Inc.
Investment Insights
Based on property information with market context.
This brand-new front-unit residential income property offers three bedrooms and three bathrooms in a modern, tenant-occupied residence. The layout includes an open living plan, abundant natural light, a finished kitchen, and a full-floor primary suite with a spa-inspired bathroom, walk-in closet, and private balcony. Additional improvements include a rooftop deck, private fenced yard, and detached one-car garage. The property has no HOA fees and is offered subject to an existing lease.
Located two blocks from Denver’s 9th & Co development, the residence is near Trader Joe’s, Cava, Postino, Frank & Roze Coffee Co., Rose Medical Center, Cherry Creek, and downtown Denver. Its central Denver setting places multiple retail, dining, medical, and employment destinations nearby.
Located two blocks from Denver’s 9th & Co development, the residence is near Trader Joe’s, Cava, Postino, Frank & Roze Coffee Co., Rose Medical Center, Cherry Creek, and downtown Denver. Its central Denver setting places multiple retail, dining, medical, and employment destinations nearby.
Key Highlights
- Tenant‑occupied three‑bedroom, three‑bath front unit
- Brand‑new construction offered subject to an existing lease
- Full‑floor primary suite with private balcony and walk‑in closet
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
$26,981
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
3.60%
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%
$539,620
$539.6K
Cap Rate 7%
$385,443
$385.4K
Cap Rate 9%
$299,789
$299.8K
Market Conditions
NOI Build-Up for 1,777 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
$52.2K $29.40/SF
− Vacancy
−$3.2K −$1.79/SF
EGI
$49.1K $27.61/SF
− OpEx
−$22.1K −$12.42/SF
NOI
$27.0K $15.18/SF
Area
Denver, CO
Vacancy
6.10%
Lease Rate
$29.40 /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%
$539,620
Cap Rate 7%
$385,443
Cap Rate 9%
$299,789
Alternative Uses
Best Use
Apartment 5plus
$385.4K
$337.3K – $449.7K
NOI $26,981 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$565.7K
$495.0K – $660.0K
NOI $39,598 @ 7.0% cap · market cap 5.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,615
Businesses Nearby
Explore this area
Business Placement
Demographics for 80220, CO
37,233
Population
17,675
Households
2.1
Avg Household Size
37
Median Age
66%
College-Educated
94%
High-School Grad
5.2 sq mi
ZIP Area
7,160
Density / Sq Mi
$101,961
Median Household Income
$61,568
Median Earnings
$1,621
Median Rent
$739,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Tenant-occupied residence with a rooftop deck, private yard, detached garage, and no HOA fees.
Where is this residential income property located?
The property is located at 1-828 Cherry St Denver, CO.
What is the asking price?
The asking price for this property is $749,999.
What are key features of this property?
This property features: Tenant‑occupied three‑bedroom, three‑bath front unit; Brand‑new construction offered subject to an existing lease; Full‑floor primary suite with private balcony and walk‑in closet
