Renovated Multifamily with In-Unit
For Sale
$950,000
10791 W 13th Avenue, Lakewood, CO 80215
Fully renovated Lakewood multifamily features condo-quality interiors, central air, and in-unit washers and dryers.
Property Size2,850 SF
Days on Market72
Property Features for 10791 W 13th Avenue
General Information
Standard status
Active
Size
2,850 SF
Property subtype
Quadruplex
Taxes and HOA fees
Annual Taxes
$4,427
Building Details
Building Size
2,850 SF
Year Built
1959
Tenancy
Multi
Listing Agency:
Marcus & Millichap Real Estate Investment Services of Atlanta, Inc.
Listed By:
Charles Burkhart · License #FA.100070708
Source:
Corken
Added: Jun 15
Changed: Aug 23
Last Checked: Aug 25 at 11:02AM
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 Real Estate Investment Services of Atlanta, Inc.
Investment Insights
Based on property information with market context.
10791 W 13th Avenue is a fully renovated multifamily property offering condo-quality finishes throughout. Units include quartz countertops, stainless steel appliances, modern cabinetry, central air conditioning, and full-size in-unit washers and dryers. Recent capital improvements include a new roof and updated plumbing. The building also has individual gas and electric metering, supporting an efficient ownership structure.
The property includes dedicated yard space for residents, an amenity rarely found in comparable multifamily offerings. It is positioned near the Oak Station Light Rail stop, providing convenient access to Downtown Denver, Golden, and the Rocky Mountains. This combination of commuter access and nearby recreation supports tenant convenience for everyday life.
For buyers seeking a turn-key residential income asset, the combination of premium interior updates, minimal deferred maintenance items noted in the remarks, and practical utility metering provides a strong basis for efficient operations. The in-unit laundry and climate control improve day-to-day livability, while the resident yard space adds a differentiated feature compared with many similar rentals. Overall, the property presents a straightforward, renovated multifamily option in the Lakewood rental market.
The property includes dedicated yard space for residents, an amenity rarely found in comparable multifamily offerings. It is positioned near the Oak Station Light Rail stop, providing convenient access to Downtown Denver, Golden, and the Rocky Mountains. This combination of commuter access and nearby recreation supports tenant convenience for everyday life.
For buyers seeking a turn-key residential income asset, the combination of premium interior updates, minimal deferred maintenance items noted in the remarks, and practical utility metering provides a strong basis for efficient operations. The in-unit laundry and climate control improve day-to-day livability, while the resident yard space adds a differentiated feature compared with many similar rentals. Overall, the property presents a straightforward, renovated multifamily option in the Lakewood rental market.
Key Highlights
- Fully renovated multifamily built in 1959 with condo‑quality finishes throughout
- Quartz countertops, stainless steel appliances, and modern cabinetry in the units
- Central air conditioning plus full‑size in‑unit washers and dryers
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
$36,247
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
3.82%
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%
$724,940
$724.9K
Cap Rate 7%
$517,814
$517.8K
Cap Rate 9%
$402,744
$402.7K
Market Conditions
NOI Build-Up for 2,850 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
$70.1K $24.60/SF
− Vacancy
−$4.2K −$1.48/SF
EGI
$65.9K $23.12/SF
− OpEx
−$29.7K −$10.41/SF
NOI
$36.2K $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%
$724,940
Cap Rate 7%
$517,814
Cap Rate 9%
$402,744
Alternative Uses
Best Use
Apartment 5plus
$517.8K
$453.1K – $604.1K
NOI $36,247 @ 7.0% cap · market cap 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$853.6K
$746.9K – $995.9K
NOI $59,754 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Fully renovated Lakewood multifamily features condo-quality interiors, central air, and in-unit washers and dryers.
Where is this multifamily property located?
The property is located at 10791 W 13th Avenue Lakewood, CO.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Fully renovated multifamily built in 1959 with condo‑quality finishes throughout; Quartz countertops, stainless steel appliances, and modern cabinetry in the units; Central air conditioning plus full‑size in‑unit washers and dryers
