Building Details

Building Size 4,653 SF

Year Built 1892

Listing Agency: Verity Real Estate

Listed By: Lisa Nicholaides · License #100036138 Show Phone

Source: Eliselosassore

Added: Apr 23 Changed: Oct 5 Last Checked: Oct 13 at 3:21AM

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Investment Insights

Based on property information with market context.

This multifamily property is located in the Capitol Hill neighborhood. The property features a converted mansion with a stone exterior, stained glass windows, balconies, and a front porch. There are seven units in total, with five units in the main residence and two units in a detached carriage house. Residents have access to a shared community laundry in the basement and a private courtyard/garden area. The property has undergone system upgrades, including a new boiler in 2024, updated interior gas lines, and main water lines. The property is located near public transportation, parks, dining, and urban amenities. The property has a bike score of 98, a walk score of 91, and a transit score of 49.

Key Highlights

• Strong In‑Place Income and Proven Cash Flow Performance
• Seven Units providing diversified income streams (five in main residence, two in detached carriage house)
• Recent Major System Upgrades: New Boiler (2024), Updated Gas and Water Lines

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$70,649

Cap Rate

4.42%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,412,980 $1.4M

Cap Rate 7%

$1,009,271 $1.0M

Cap Rate 9%

$784,989 $785.0K

Market Conditions

NOI Build-Up for 4,653 SF

Gross rent

$136.8K $29.40/SF

− Vacancy

−$8.3K −$1.79/SF

EGI

$128.5K $27.61/SF

− OpEx

−$57.8K −$12.42/SF

NOI

$70.6K $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 Rate 5%

$1,412,980

Cap Rate 7%

$1,009,271

Cap Rate 9%

$784,989

Alternative Uses

Best Use

Apartment 5plus

$1.01M

$883.1K – $1.18M (±1% cap)

NOI $70,649 @ 7.0% cap · market cap 4.42%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.48M

$1.30M – $1.73M (±1% cap)

NOI $103,685 @ 7.0% cap · market cap 6.48%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Daycare Center (Bike/Boat/Book/etc) Store Food Market Butcher Mobile Phone Store Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

8,282

Businesses Nearby

Explore this area Business Placement

Demographics for 80203, CO

22,883

Population

16,887

Households

1.4

Avg Household Size

33

Median Age

69%

College-Educated

97%

High-School Grad

1.1 sq mi

ZIP Area

20,803

Density / Sq Mi

$74,654

Median Household Income

$59,229

Median Earnings

$1,569

Median Rent

$462,500

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Apartment building - Historic charm meets strong cash flow in Denver's Capitol Hill.

Where is this apartment building located?

The property is located at 1060 N Pennsylvania Street Denver, CO.

What is the asking price?

The asking price for this property is $1,600,000.

What are key features of this property?

This property features: Strong In‑Place Income and Proven Cash Flow Performance; Seven Units providing diversified income streams (five in main residence, two in detached carriage house); Recent Major System Upgrades: New Boiler (2024), Updated Gas and Water Lines