Lakewood Quadplex Investment
For Sale
$900,000
7120 W 16th Pl, Lakewood, CO 80214
Updated Lakewood quadplex with income potential and move-in ready units.
Property Size2,850 SF
Lot Size0.29 Acres
Days on Market153
Property Features for 7120 W 16th Pl
General Information
Standard status
Active
Size
2,850 SF
Lot size
0.29 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$5,454
Building Details
Building Size
2,850 SF
Year Built
1954
Listing Agency:
(303) 725-3786
Listed By:
Scot Conti
(303) 725-3786
Source:
Elliman
Added: Mar 31
Changed: Aug 27
Last Checked: Aug 29 at 12:34PM
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 Scot Conti
Investment Insights
Based on property information with market context.
Located in Lakewood's Grand View Acres, this brick quadplex constructed in 1954 presents a rare investment opportunity. The property comprises four units, each featuring two bedrooms and one bathroom. Two units are currently under fixed-term leases, providing immediate income. The vacant units are move-in ready, suitable for an owner-occupant or investor. Three of the four units underwent extensive updates in 2026. Two units received new carpet, vinyl flooring, and fresh paint, while one unit was fully renovated with a new kitchen, bathroom, stainless steel appliances, vinyl flooring, carpet, lighting, and paint. A new water heater was installed in 2025. The property includes a spacious fenced yard, two private one-car garages, and dedicated off-street parking for the remaining two units. The location provides convenient access to parks, trails, shopping, dining, and other amenities in Lakewood and Denver. The property offers durable interiors and tenant appeal.
Key Highlights
- Immediate income generation from two units with existing fixed‑term leases.
- Opportunity for owner‑occupancy with potential for rental income from remaining three units.
- Three of four units extensively updated, including one fully renovated unit with new kitchen, bathroom, and stainless steel appliances.
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
$41,410
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
4.60%
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%
$828,200
$828.2K
Cap Rate 7%
$591,571
$591.6K
Cap Rate 9%
$460,111
$460.1K
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
$63.3K $22.20/SF
− Vacancy
−$4.1K −$1.44/SF
EGI
$59.2K $20.76/SF
− OpEx
−$17.7K −$6.23/SF
NOI
$41.4K $14.53/SF
Area
Lakewood, CO
Vacancy
6.50%
Lease Rate
$22.20 /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%
$828,200
Cap Rate 7%
$591,571
Cap Rate 9%
$460,111
Alternative Uses
Best Use
Multifamily LT 5
$591.6K
$517.6K – $690.2K
NOI $41,410 @ 7.0% cap · market cap 4.60%
Second Best
Apartment 5plus
$517.8K
$453.1K – $604.1K
NOI $36,247 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$853.6K
$746.9K – $995.9K
NOI $59,754 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
421
Businesses Nearby
Explore this area
Business Placement
Demographics for 80214, CO
26,493
Population
13,298
Households
2
Avg Household Size
36
Median Age
39%
College-Educated
89%
High-School Grad
4.7 sq mi
ZIP Area
5,637
Density / Sq Mi
$74,259
Median Household Income
$48,094
Median Earnings
$1,516
Median Rent
$519,900
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?
Quadplex - Updated Lakewood quadplex with income potential and move-in ready units.
Where is this quadplex located?
The property is located at 7120 W 16th Pl Lakewood, CO.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Immediate income generation from two units with existing fixed‑term leases.; Opportunity for owner‑occupancy with potential for rental income from remaining three units.; Three of four units extensively updated, including one fully renovated unit with new kitchen, bathroom, and stainless steel appliances.
