Eight-Unit Vintage Apartment
For Sale
$1,625,000
1069 N Pearl Street, Denver, CO 80203
Multifamily property with private patios, full kitchens, laundry amenities, and off-street parking.
Property Size4,878 SF
Days on Market11
Property Features for 1069 N Pearl Street
General Information
Standard status
Active
Size
4,878 SF
Total Parking Spaces
1
Property subtype
Commercial
Zoning
G-MU-5
Units
Unit Mix
1 x 2BR, 7 x 1BR
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$8,640
Amenities
laundry
private patios
off-street parking
Building Details
Building Size
4,878 SF
Year Built
1925
Buildings
1
Units
8
Listing Agency:
KENTWOOD REAL ESTATE DTC, LLC
(303) 358-4250
Listed By:
Kyle Malnati · License #ER40042617
(303) 358-4250
Source:
Coloradopartners
Added: Aug 1
Changed: Aug 2
Last Checked: Aug 10 at 11:19AM
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 KENTWOOD REAL ESTATE DTC, LLC
Investment Insights
Based on property information with market context.
This eight-unit apartment property in Denver’s Capitol Hill neighborhood dates to 1925 and presents a brick exterior with large windows and original hardwood floors. The unit mix includes one two-bedroom apartment and seven one-bedroom apartments. Interior and site features include original fixtures, full kitchens, private patios, lower-level laundry facilities, and off-street parking. The property is located at 1069 N Pearl Street and carries G-MU-5 zoning.
The building occupies an expansive lot along a tree-lined street, with Cheesman Park situated just blocks away. Restaurants, bars, markets, retail, and service businesses are also located nearby, providing a broad range of neighborhood amenities within the surrounding Capitol Hill area.
The building occupies an expansive lot along a tree-lined street, with Cheesman Park situated just blocks away. Restaurants, bars, markets, retail, and service businesses are also located nearby, providing a broad range of neighborhood amenities within the surrounding Capitol Hill area.
Key Highlights
- Eight‑unit multifamily property with one two‑bedroom and seven one‑bedroom apartments
- 1925 building with brick facade, expansive windows, and original hardwood flooring
- Private patios, full kitchens, original fixtures, and lower‑level laundry amenities
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
$74,066
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
4.56%
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%
$1,481,320
$1.5M
Cap Rate 7%
$1,058,086
$1.1M
Cap Rate 9%
$822,956
$823.0K
Market Conditions
NOI Build-Up for 4,878 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
$143.4K $29.40/SF
− Vacancy
−$8.7K −$1.79/SF
EGI
$134.7K $27.61/SF
− OpEx
−$60.6K −$12.42/SF
NOI
$74.1K $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 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%
$1,481,320
Cap Rate 7%
$1,058,086
Cap Rate 9%
$822,956
Alternative Uses
Best Use
Apartment 5plus
$1.06M
$925.8K – $1.23M
NOI $74,066 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,699 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with private patios, full kitchens, laundry amenities, and off-street parking.
Where is this apartment building located?
The property is located at 1069 N Pearl Street Denver, CO.
What is the asking price?
The asking price for this property is $1,625,000.
What are key features of this property?
This property features: Eight‑unit multifamily property with one two‑bedroom and seven one‑bedroom apartments; 1925 building with brick facade, expansive windows, and original hardwood flooring; Private patios, full kitchens, original fixtures, and lower‑level laundry amenities
