Four-Property Multifamily
For Sale
$1,200,000
1150-1144 S Cherokee St, Denver, CO 80204
Four-property residential portfolio requiring renovation, with I-A light industrial zoning and continued residential use after improvements.
Property Size5,145 SF
Price / SF$233.24
Days on Market700
Property Features for 1150-1144 S Cherokee St
General Information
Standard status
Active
Size
5,145 SF
Property subtype
Residential Income
Zoning
I-A
Property Condition
Severity
Repairs Needed
Evidence
All properties need cosmetic and some structural repairs to maximize cash-flow.
Site & Location
Neighborhood
Overland
Taxes and HOA fees
Annual Taxes
$1,585
Listing Agency:
Realspace Commercial Real Estate Llc
Listed By:
Michael Corbey · License #040024487
(720) 771-6600
Source:
Exprealty
Added: Nov 22, 2024
Changed: Oct 2
Last Checked: Oct 20 at 11:18PM
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 Realspace Commercial Real Estate Llc
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily portfolio includes four individual properties offered together, encompassing 5,145 SF at 1150-1144 S Cherokee St in Denver, CO. The properties are positioned for redevelopment or remodeling and require cosmetic work along with some structural repairs.
The land carries I-A light industrial zoning. Residential use can remain in place after the renovations are completed, and the properties may be delivered vacant for commencement of the renovation project.
The land carries I-A light industrial zoning. Residential use can remain in place after the renovations are completed, and the properties may be delivered vacant for commencement of the renovation project.
Key Highlights
- Four individual properties offered together as one portfolio
- 5,145 SF multifamily portfolio
- I‑A light industrial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,120
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,562,400
$1.6M
Cap Rate 7%
$1,116,000
$1.1M
Cap Rate 9%
$868,000
$868.0K
Market Conditions
NOI Build-Up for 5,145 SF
Gross rent
$151.3K $29.40/SF
− Vacancy
−$9.2K −$1.79/SF
EGI
$142.0K $27.61/SF
− OpEx
−$63.9K −$12.42/SF
NOI
$78.1K $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 Rate 5%
$1,562,400
Cap Rate 7%
$1,116,000
Cap Rate 9%
$868,000
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$976.5K – $1.30M
NOI $78,120 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,649 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
1,850
Businesses Nearby
Explore this area
Business Placement
Demographics for 80204, CO
35,269
Population
18,378
Households
1.9
Avg Household Size
33
Median Age
51%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
6,413
Density / Sq Mi
$79,265
Median Household Income
$58,860
Median Earnings
$1,724
Median Rent
$579,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Four-property residential portfolio requiring renovation, with I-A light industrial zoning and continued residential use after improvements.
Where is this multifamily property located?
The property is located at 1150-1144 S Cherokee St Denver, CO.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Four individual properties offered together as one portfolio; 5,145 SF multifamily portfolio; I‑A light industrial zoning
