Fourplex with Separate
1042-1048 S Grove Street Denver, CO 80219
For Sale
$1,050,000
Brick fourplex with four two-bedroom units, each with its own outside entrance and separate heating and appliances.
Property Size3,136 SF
Price / SF$334.82
Days on Market117
Property Features for 1042-1048 S Grove Street
General Information
- Standard status
- Active
- Size
- 3,136 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1978
Listing Agency:
Action Properties Inc
(720) 351-3398
Listed By:
Richard Frechin · License #000259921
(720) 351-3398
Source:
Exitrealty
Added: Mar 30
Changed: Jul 20
Last Checked: Jul 24 at 6:34AM
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 Action Properties Inc
Investment Insights
Based on property information with market context.
This great red brick fourplex, built in 1963, offers four two-bedroom, one-bath units with approximately 800 square feet per unit. The bi-level layout includes two upper units and two lower units. Each unit has its own furnace, water heater, stove, refrigerator, full-size washer, and full-size dryer. Units also feature separate outside entrances. Utility setup includes separate gas and electric meters, with common water service.
The property provides ample parking with 9 spaces, including 6 in front and 3 next to the alley. The roof shingles are approximately 12 years old and described as architectural impact-resistant. Recent interior updates include new bathroom vanities, sinks, and faucets in all four units, along with some new plumbing. A few new tempered glass windows are noted on the lower level, and there are two yard sheds for storage.
Leasing information provided includes three one-year leases and one two-year lease expiring June 2027, with some long-term tenants. All rents are listed as $1,500 per month, plus $70 each for water and trash, and tenants pay their own gas and electricity.
The property provides ample parking with 9 spaces, including 6 in front and 3 next to the alley. The roof shingles are approximately 12 years old and described as architectural impact-resistant. Recent interior updates include new bathroom vanities, sinks, and faucets in all four units, along with some new plumbing. A few new tempered glass windows are noted on the lower level, and there are two yard sheds for storage.
Leasing information provided includes three one-year leases and one two-year lease expiring June 2027, with some long-term tenants. All rents are listed as $1,500 per month, plus $70 each for water and trash, and tenants pay their own gas and electricity.
Key Highlights
- 4‑plex with four 2‑bedroom, 1‑bath units (bi‑level: 2 upper and 2 lower).
- Each unit has its own furnace, water heater, and kitchen appliances, plus a full‑size washer and full‑size dryer.
- Each unit has a separate outside entrance; separate gas and electric meters with common water (tenants pay gas and electricity).
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $69.6k | $22.20 |
| − Vacancy | −$4.0k | −$1.29 |
| EGI | $65.6k | $20.91 |
| − OpEx | −$19.7k | −$6.27 |
| NOI | $45.9k | $14.64 |
3,136 SF · lease $22.20/SF/yr · vacancy 5.79% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$655.9K
$573.9K – $765.2K
NOI $45,912 @ 7.0% cap · market cap 4.37%
Second Best
Apartment 5plus
$602.5K
$527.2K – $702.9K
NOI $42,174 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$894.6K
$782.8K – $1.04M
NOI $62,620 @ 7.0% cap · market cap 5.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Brick fourplex with four two-bedroom units, each with its own outside entrance and separate heating and appliances.
Where is this quadplex located?
The property is located at 1042-1048 S Grove Street Denver, CO.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 4‑plex with four 2‑bedroom, 1‑bath units (bi‑level: 2 upper and 2 lower).; Each unit has its own furnace, water heater, and kitchen appliances, plus a full‑size washer and full‑size dryer.; Each unit has a separate outside entrance; separate gas and electric meters with common water (tenants pay gas and electricity).
