Deeded Townhome Rental
For Sale
$4,395,000
5151 W 10th Ave, Denver, CO 80204
11 individually deeded townhomes built in 2020 with in-unit laundry, air conditioning, and select garages.
Property Size10,622 SF
Days on Market62
Property Features for 5151 W 10th Ave
General Information
Standard status
Active
Size
10,622 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
11
Building Details
Building Size
10,622 SF
Year Built
2020
Tenancy
Multi
Listing Agency:
Unique Properties, Inc
(303) 931-0793
Listed By:
Phil Dankner · License #ER.000183921
(303) 931-0793
Source:
Uniqueprop
Added: Jun 25
Changed: Aug 23
Last Checked: Aug 25 at 6:37AM
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 Unique Properties, Inc
Investment Insights
Based on property information with market context.
5151-5171 W 10th Ave is a for-sale multifamily property consisting of 11 modern, individually deeded townhome units constructed in November 2020. The unit mix includes six 2-bedroom, 2.5-bath residences, two 2-bedroom, 2-bath residences, and three 1-bedroom, 1.5-bath residences. Nine units include garages. Each unit is equipped with an in-unit washer and dryer, along with air conditioning and heating.
The property is located on W 10th Ave with convenience to Sheridan and proximity to 6th Ave and the Colfax corridor, providing accessibility throughout the greater metropolitan area. It is also described as being just a few blocks from RTD, supporting connections to the city.
This configuration can support buyers looking for a newer townhome-style income asset with a defined unit mix and in-unit laundry, HVAC, and garages on a majority of the homes. With all units individually deeded, the structure may also appeal to operators or investors seeking a property comprised of separate townhome units while maintaining a single ownership position.
The property is located on W 10th Ave with convenience to Sheridan and proximity to 6th Ave and the Colfax corridor, providing accessibility throughout the greater metropolitan area. It is also described as being just a few blocks from RTD, supporting connections to the city.
This configuration can support buyers looking for a newer townhome-style income asset with a defined unit mix and in-unit laundry, HVAC, and garages on a majority of the homes. With all units individually deeded, the structure may also appeal to operators or investors seeking a property comprised of separate townhome units while maintaining a single ownership position.
Key Highlights
- 11 individually deeded townhome units built in 2020 (constructed November 2020)
- Unit mix: six 2‑bed/2.5‑bath, two 2‑bed/2‑bath, and three 1‑bed/1.5‑bath units
- All units include in‑unit washer and dryer plus air conditioning and heating
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
$161,281
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
3.67%
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%
$3,225,620
$3.2M
Cap Rate 7%
$2,304,014
$2.3M
Cap Rate 9%
$1,792,011
$1.8M
Market Conditions
NOI Build-Up for 10,622 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
$312.3K $29.40/SF
− Vacancy
−$19.0K −$1.79/SF
EGI
$293.2K $27.61/SF
− OpEx
−$132.0K −$12.42/SF
NOI
$161.3K $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%
$3,225,620
Cap Rate 7%
$2,304,014
Cap Rate 9%
$1,792,011
Alternative Uses
Best Use
Apartment 5plus
$2.30M
$2.02M – $2.69M
NOI $161,281 @ 7.0% cap · market cap 3.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.38M
$2.96M – $3.94M
NOI $236,696 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
875
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 11 individually deeded townhomes built in 2020 with in-unit laundry, air conditioning, and select garages.
Where is this apartment building located?
The property is located at 5151 W 10th Ave Denver, CO.
What is the asking price?
The asking price for this property is $4,395,000.
What are key features of this property?
This property features: 11 individually deeded townhome units built in 2020 (constructed November 2020); Unit mix: six 2‑bed/2.5‑bath, two 2‑bed/2‑bath, and three 1‑bed/1.5‑bath units; All units include in‑unit washer and dryer plus air conditioning and heating
