Individually Deeded Townhome
For Sale
$4,300,000
303 - 375 East Ohio Avenue, Denver, CO 80209
Thirteen 2021-built townhomes with private entries and attached two-car garages, each with tenant-paid utilities.
Property Size18,936 SF
Days on Market62
Property Features for 303 - 375 East Ohio Avenue
General Information
Standard status
Active
Size
18,936 SF
Property subtype
Multifamily
Building Details
Building Size
18,936 SF
Year Built
2006
Listing Agency:
(303) 931-0793
Listed By:
Phil Dankner · License #CO FA.100052493
(303) 931-0793
Source:
Uniqueprop
Added: Jun 25
Changed: Aug 23
Last Checked: Aug 25 at 5:15AM
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 Phil Dankner
Investment Insights
Based on property information with market context.
The Fountain Village Townhomes include 13 individually deeded units completed in 2021. The build-to-rent design combines a multifamily-style operating framework with the ability to dispose of units individually. Each home is configured with a private entry and an attached two-car garage, with select units offering patios, sliding glass doors, or private decks. Units also feature stainless-steel appliances, vinyl flooring, hard-surface countertops, and updated bathroom tiling. Tenant-paid utilities are separated per unit, with the sprinkler system as the only utility expense covered by ownership. The HOA is fully controlled by ownership and does not currently charge monthly dues. A new Class 4 asphalt shingle roof was installed in May 2025.
Located in the historic downtown district of Fountain, Colorado, the community is described as just off Santa Fe Avenue, providing easy access to downtown Fountain, I-25, and nearby employment centers. The area is supported by military employment at Fort Carson.
This property may appeal to investors or owner-operators seeking a modern, deeded townhome portfolio with separated unit utilities and streamlined common expenses. The individually deeded structure also supports multiple disposition strategies, and the fact that half of the original development has already been sold individually demonstrates a defined exit pathway for this format.
Located in the historic downtown district of Fountain, Colorado, the community is described as just off Santa Fe Avenue, providing easy access to downtown Fountain, I-25, and nearby employment centers. The area is supported by military employment at Fort Carson.
This property may appeal to investors or owner-operators seeking a modern, deeded townhome portfolio with separated unit utilities and streamlined common expenses. The individually deeded structure also supports multiple disposition strategies, and the fact that half of the original development has already been sold individually demonstrates a defined exit pathway for this format.
Key Highlights
- Fountain Village Townhomes: 13 individually deeded townhome units built in 2021
- BTR design with individually deeded units for flexibility between future condo‑style exit or individual residential sales
- Each unit has a private entry and an attached two‑car garage; select units offer patios, sliding glass doors, or private decks
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
$287,517
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
6.69%
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%
$5,750,340
$5.8M
Cap Rate 7%
$4,107,386
$4.1M
Cap Rate 9%
$3,194,633
$3.2M
Market Conditions
NOI Build-Up for 18,936 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
$556.7K $29.40/SF
− Vacancy
−$34.0K −$1.79/SF
EGI
$522.8K $27.61/SF
− OpEx
−$235.2K −$12.42/SF
NOI
$287.5K $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%
$5,750,340
Cap Rate 7%
$4,107,386
Cap Rate 9%
$3,194,633
Alternative Uses
Best Use
Apartment 5plus
$4.11M
$3.59M – $4.79M
NOI $287,517 @ 7.0% cap · market cap 6.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.03M
$5.27M – $7.03M
NOI $421,961 @ 7.0% cap · market cap 9.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,573
Businesses Nearby
Explore this area
Business Placement
Demographics for 80209, CO
27,061
Population
16,045
Households
1.7
Avg Household Size
38
Median Age
80%
College-Educated
99%
High-School Grad
3.5 sq mi
ZIP Area
7,732
Density / Sq Mi
$118,759
Median Household Income
$81,604
Median Earnings
$1,981
Median Rent
$971,500
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 - Thirteen 2021-built townhomes with private entries and attached two-car garages, each with tenant-paid utilities.
Where is this apartment building located?
The property is located at 303 - 375 East Ohio Avenue Denver, CO.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: Fountain Village Townhomes: 13 individually deeded townhome units built in 2021; BTR design with individually deeded units for flexibility between future condo‑style exit or individual residential sales; Each unit has a private entry and an attached two‑car garage; select units offer patios, sliding glass doors, or private decks
