Updated Multifamily Investment
For Sale
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10775 W 13th Ave, Lakewood, CO 80215
Built in 1981 and all-electric, the property features extensive interior updates and a low-maintenance exterior.
Property Size3,200 SF
Price / SF$303.13
Days on Market62
Property Features for 10775 W 13th Ave
General Information
Standard status
Active
Size
3,200 SF
Total Parking Spaces
8
Property subtype
Multifamily
Net Operating Income
$52,052
Building Details
Year Built
1981
Buildings
1
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Denver
Listed By:
Charles Burkhart · License #FA100103787
Source:
Crexi
Added: Jul 14
Changed: Sep 6
Last Checked: Sep 13 at 7:22AM
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 Marcus & Millichap - Denver
Investment Insights
Based on property information with market context.
Built in 1981, this well-maintained multifamily property has been extensively updated with modern interior finishes. Improvements include new cabinetry and countertops, luxury vinyl plank flooring, refreshed bathroom vanities, bathtubs, and contemporary fixtures. The property is all-electric and includes a zero-scaped exterior designed for low-maintenance ownership.
Located in the Lakewood submarket of the Denver metropolitan area, the property is positioned just minutes from Downtown Denver, Downtown Golden, the Denver Federal Center, and the Oak Station RTD W Line. The surrounding area provides convenient access to major employment centers, transit, shopping, dining, and outdoor recreation.
As an income-oriented investment offering, the property is described as having minimal deferred maintenance and includes approximately $200 per unit in achievable rental upside, with the opportunity to acquire a turnkey asset.
Located in the Lakewood submarket of the Denver metropolitan area, the property is positioned just minutes from Downtown Denver, Downtown Golden, the Denver Federal Center, and the Oak Station RTD W Line. The surrounding area provides convenient access to major employment centers, transit, shopping, dining, and outdoor recreation.
As an income-oriented investment offering, the property is described as having minimal deferred maintenance and includes approximately $200 per unit in achievable rental upside, with the opportunity to acquire a turnkey asset.
Key Highlights
- Multifamily property built in 1981 with all‑electric operation.
- Extensively updated interiors with new cabinetry, countertops, luxury vinyl plank flooring, bathroom vanities, bathtubs, and contemporary fixtures.
- Zero‑scaped exterior designed for low‑maintenance ownership.
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
$40,698
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
4.20%
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%
$813,960
$814.0K
Cap Rate 7%
$581,400
$581.4K
Cap Rate 9%
$452,200
$452.2K
Market Conditions
NOI Build-Up for 3,200 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
$78.7K $24.60/SF
− Vacancy
−$4.7K −$1.48/SF
EGI
$74.0K $23.12/SF
− OpEx
−$33.3K −$10.41/SF
NOI
$40.7K $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%
$813,960
Cap Rate 7%
$581,400
Cap Rate 9%
$452,200
Alternative Uses
Best Use
Apartment 5plus
$581.4K
$508.7K – $678.3K
NOI $40,698 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$958.5K
$838.7K – $1.12M
NOI $67,092 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
641
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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Built in 1981 and all-electric, the property features extensive interior updates and a low-maintenance exterior.
Where is this multifamily property located?
The property is located at 10775 W 13th Ave Lakewood, CO.
What is the asking price?
The asking price for this property is $970,000.
What are key features of this property?
This property features: Multifamily property built in 1981 with all‑electric operation.; Extensively updated interiors with new cabinetry, countertops, luxury vinyl plank flooring, bathroom vanities, bathtubs, and contemporary fixtures.; Zero‑scaped exterior designed for low‑maintenance ownership.
