Goldsmith Fourplex Investment
For Sale
$899,000
Pending
2396 S Linden Ct, Denver, CO 80222
Fourplex in desirable Goldsmith neighborhood with strong rental income potential.
Property Size3,232 SF
Lot Size0.16 Acres
Days on Market167
Property Features for 2396 S Linden Ct
General Information
Standard status
Pending
Size
3,232 SF
Lot size
0.16 Acres
Property subtype
Investment
Building Details
Year Built
1965
Listing Agency:
LoKation
(720) 628-0084
Listed By:
Ben Drotar · License #100088746
(720) 628-0084
Source:
Elliman
Added: Mar 11
Changed: Jul 6
Last Checked: Aug 23 at 6:26AM
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 LoKation
Investment Insights
Based on property information with market context.
This residential fourplex presents an investment opportunity in the Goldsmith neighborhood. The low-maintenance brick building contains four units, each with 2 bedrooms and 1 bath, and 808 sq. ft. of living space. Each unit is equipped with a refrigerator, stove/oven, microwave, and washer/dryer hookups. The property features off-street parking options, an on-demand hot water system, and a separate central boiler. The front yard includes fenced, low-maintenance landscaping. Each unit has a separate electric meter, allowing future owners to transfer power billing to tenants, although currently all utilities are paid by the owner and included in the rent. Gas and water are paid by the owner. Additional features include five designated alley parking spaces and off-street parking along the side and front. The roof was replaced in 2019 and is in good condition, and the water back flow assembly is scheduled to be replaced in 2025. There is a separate boiler for baseboard heat, and 2 Rinnai tankless hot water heaters. All units are rented. The property is located close to parks, shops, restaurants, and major commuter routes.
Key Highlights
- Fourplex in the desirable Goldsmith neighborhood offers a strong rental income potential.
- Each unit is spacious (808 sq. ft.) with 2 bedrooms, 1 bath, and includes essential appliances and washer/dryer hookups.
- No HOA fees, providing significant cost savings.
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
$53,711
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
5.97%
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%
$1,074,220
$1.1M
Cap Rate 7%
$767,300
$767.3K
Cap Rate 9%
$596,789
$596.8K
Market Conditions
NOI Build-Up for 3,232 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
$81.4K $25.20/SF
− Vacancy
−$4.7K −$1.46/SF
EGI
$76.7K $23.74/SF
− OpEx
−$23.0K −$7.12/SF
NOI
$53.7K $16.62/SF
Area
Denver, CO
Vacancy
5.79%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,074,220
Cap Rate 7%
$767,300
Cap Rate 9%
$596,789
Alternative Uses
Best Use
Multifamily LT 5
$767.3K
$671.4K – $895.2K
NOI $53,711 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$701.0K
$613.4K – $817.9K
NOI $49,073 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$1.03M
$900.3K – $1.20M
NOI $72,020 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,086
Businesses Nearby
Explore this area
Business Placement
Demographics for 80222, CO
22,381
Population
11,625
Households
1.9
Avg Household Size
38
Median Age
57%
College-Educated
96%
High-School Grad
3.8 sq mi
ZIP Area
5,890
Density / Sq Mi
$85,354
Median Household Income
$57,833
Median Earnings
$1,715
Median Rent
$596,300
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?
Quadplex - Fourplex in desirable Goldsmith neighborhood with strong rental income potential.
Where is this quadplex located?
The property is located at 2396 S Linden Ct Denver, CO.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Fourplex in the desirable Goldsmith neighborhood offers a strong rental income potential.; Each unit is spacious (808 sq. ft.) with 2 bedrooms, 1 bath, and includes essential appliances and washer/dryer hookups.; No HOA fees, providing significant cost savings.
