Twelve-Unit Apartment
For Sale
Contact for pricing
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 Market53
Property Features for 10610-10640 W 7th Place
General Information
Standard status
Active
Size
7,665 SF
Property subtype
Multifamily
Net Operating Income
$147,974
Units
Unit Mix
4 x 1BR, 8 x 2BR
Multifamily Units
12
Building Details
Year Built
1988
Year Renovated
2022
Buildings
1
Units
12
Listing Agency:
NORTHPEAK Commercial Advisors
Listed By:
Jack Sherman · License #FA 100085430
(720) 738-1944
Source:
Crexi
Added: Jul 24
Changed: Sep 11
Last Checked: Sep 13 at 7:24AM
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
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
$97,485
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
3.91%
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%
$1,949,700
$1.9M
Cap Rate 7%
$1,392,643
$1.4M
Cap Rate 9%
$1,083,167
$1.1M
Market Conditions
NOI Build-Up for 7,665 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
$188.6K $24.60/SF
− Vacancy
−$11.3K −$1.48/SF
EGI
$177.2K $23.12/SF
− OpEx
−$79.8K −$10.41/SF
NOI
$97.5K $12.72/SF
Area
Lakewood, CO
Vacancy
6.00%
Lease Rate
$24.60 /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%
$1,949,700
Cap Rate 7%
$1,392,643
Cap Rate 9%
$1,083,167
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
