Quadplex with Private
For Sale
$974,000
1042 S Grove St, Denver, CO 80219
Four two-bedroom apartments have separate gas and electric meters, individual furnaces, and full-size laundry appliances.
Property Size3,136 SF
Price / SF$310.59
Days on Market11
Property Features for 1042 S Grove St
General Information
Standard status
Active
Size
3,136 SF
Property subtype
Residential Income
Zoning
E-TH-2.5
Site & Location
Neighborhood
Westwood
Taxes and HOA fees
Annual Taxes
$5,140
Amenities
4
8
Assessor
3136
Partial
Level,Outbuildings,House Faces West,Gutters
City
7050
9
0.16
No
Off Street
Building Details
Building Size
3,136 SF
Year Built
1978
Listing Agency:
Action Properties Inc
(970) 594-9228
Listed By:
Jeni Baretta
Source:
Focalrealestategroup
Added: Oct 19
Changed: Oct 28
Last Checked: Oct 28 at 3:48PM
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
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Investment Insights
Based on property information with market context.
This four-unit residential income property contains 3,136 square feet, with each apartment measuring approximately 800 square feet. The bi-level layout places two units on each level, and every apartment has its own exterior entrance. Each includes two bedrooms and one bathroom, an individual furnace and water heater, a stove, a refrigerator, and full-size washer and dryer. Ownership of some appliances varies. The property has nine off-street parking spaces and two yard sheds. Recent updates include bathroom vanities, sinks, and faucets in all four units, along with some plumbing work. The roof has architectural impact-resistant shingles, approximately 12 years old.
Gas and electric are separately metered by unit; water is shared. Three apartments have one-year leases, and the fourth has a two-year lease expiring in June 2027. Nearby context includes bus service, shops, restaurants, schools, and parks, with light rail described as not far away. Zoning is E-TH-2.5.
Gas and electric are separately metered by unit; water is shared. Three apartments have one-year leases, and the fourth has a two-year lease expiring in June 2027. Nearby context includes bus service, shops, restaurants, schools, and parks, with light rail described as not far away. Zoning is E-TH-2.5.
Key Highlights
- Four two‑bedroom, one‑bath apartments; approximately 800 square feet each
- Bi‑level layout with two units on each level; each apartment has its own exterior entrance
- Nine off‑street parking spaces and two yard sheds
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,912
Cap Rate
4.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$918,240
$918.2K
Cap Rate 7%
$655,886
$655.9K
Cap Rate 9%
$510,133
$510.1K
Market Conditions
NOI Build-Up for 3,136 SF
Gross rent
$69.6K $22.20/SF
− Vacancy
−$4.0K −$1.29/SF
EGI
$65.6K $20.91/SF
− OpEx
−$19.7K −$6.27/SF
NOI
$45.9K $14.64/SF
Area
ZIP 80219
Vacancy
5.79%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$918,240
Cap Rate 7%
$655,886
Cap Rate 9%
$510,133
Alternative Uses
Best Use
Multifamily LT 5
$655.9K
$573.9K – $765.2K
NOI $45,912 @ 7.0% cap · market cap 4.71%
Second Best
Apartment 5plus
$602.5K
$527.2K – $702.9K
NOI $42,174 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$894.6K
$782.8K – $1.04M
NOI $62,620 @ 7.0% cap · market cap 6.43%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
768
Businesses Nearby
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Business Placement
Demographics for 80219, CO
61,585
Population
21,729
Households
2.8
Avg Household Size
33
Median Age
22%
College-Educated
72%
High-School Grad
7.4 sq mi
ZIP Area
8,322
Density / Sq Mi
$67,325
Median Household Income
$41,153
Median Earnings
$1,464
Median Rent
$426,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom apartments have separate gas and electric meters, individual furnaces, and full-size laundry appliances.
Where is this quadplex located?
The property is located at 1042 S Grove St Denver, CO.
What is the asking price?
The asking price for this property is $974,000.
What are key features of this property?
This property features: Four two‑bedroom, one‑bath apartments; approximately 800 square feet each; Bi‑level layout with two units on each level; each apartment has its own exterior entrance; Nine off‑street parking spaces and two yard sheds
