Twelve-Unit Apartment
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For Sale
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10610-10640 W 7th Place, Lakewood, CO 80215
Twelve-unit apartment community with four one-bedrooms and eight two-bedrooms, with extensive recent improvements to all units.
Property Size7,665 SF
Price / SF$325.51
Days on Market7
Property Features for 10610-10640 W 7th Place
General Information
Standard status
Active
Size
7,665 SF
Property subtype
Multifamily
Units
Unit Mix
4 x 1BR, 8 x 2BR
Multifamily Units
12
Building Details
Year Built
1988
Listing Agency:
NORTHPEAK Commercial Advisors
Listed By:
Hunter Schaefer · License #FA100086469
Source:
Crexi
Added: Jul 24
Changed: Jul 29
Last Checked: Jul 29 at 6:53PM
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 NORTHPEAK Commercial Advisors
Investment Insights
Based on property information with market context.
10610-10640 W 7th Place is a 12-unit apartment community built in 1988. The unit mix includes four 1-bedrooms and eight 2-bedrooms. Recent updates include 12/12 units completely redone, along with exterior paint, landscaping, electrical panels, and swamp coolers.
The property is described as well-located with easy access to the mountains and the Denver Federal Center, which has over 6,000 employees. This combination of recent interior and exterior improvements and a strong local employment draw supports a straightforward multifamily acquisition opportunity for investors seeking a well-maintained asset.
The building offers a consistent, investor-friendly configuration centered on two-bedroom and one-bedroom apartment layouts, with upgrades carried through every unit.
The property is described as well-located with easy access to the mountains and the Denver Federal Center, which has over 6,000 employees. This combination of recent interior and exterior improvements and a strong local employment draw supports a straightforward multifamily acquisition opportunity for investors seeking a well-maintained asset.
The building offers a consistent, investor-friendly configuration centered on two-bedroom and one-bedroom apartment layouts, with upgrades carried through every unit.
Key Highlights
- 12‑unit apartment community built in 1988
- Unit mix: four 1‑bedrooms and eight 2‑bedrooms
- 12/12 units completely redone with recent improvements throughout
Financial Insights For Apartment 5plus
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 | $188.6k | $24.60 |
| − Vacancy | −$11.3k | −$1.48 |
| EGI | $177.2k | $23.12 |
| − OpEx | −$79.8k | −$10.41 |
| NOI | $97.5k | $12.72 |
7,665 SF · lease $24.60/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.39M
$1.22M – $1.62M
NOI $97,485 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.30M
$2.01M – $2.68M
NOI $160,707 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,176
Businesses Nearby
Explore this area
Business Placement
Demographics for 80215, CO
19,908
Population
9,156
Households
2.2
Avg Household Size
42
Median Age
49%
College-Educated
97%
High-School Grad
5.5 sq mi
ZIP Area
3,620
Density / Sq Mi
$85,017
Median Household Income
$49,100
Median Earnings
$1,728
Median Rent
$615,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Twelve-unit apartment community with four one-bedrooms and eight two-bedrooms, with extensive recent improvements to all units.
Where is this apartment building located?
The property is located at 10610-10640 W 7th Place Lakewood, CO.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: 12‑unit apartment community built in 1988; Unit mix: four 1‑bedrooms and eight 2‑bedrooms; 12/12 units completely redone with recent improvements throughout
