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    Denver Multifamily Investment Opportunity Title is generated by Realmo AI

    1361 N Humboldt St, Denver, CO 80218

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    For Sale
    $1,175,000

    Nine-unit apartment building in Denver's Cheesman Park neighborhood.

    Type:Investment
    Lot size:
    0.11 Acres
    Added:
    Apr 24, 2026
    Days on Market:
    44
    Last Refresh:
    Apr 24 at 3:45 pm

    Property Features for 1361 N Humboldt St

    General Information

    Standard status
    Active
    Lot size
    0.11 Acres
    Property subtype
    Investment

    Building Details

    Year Built
    1928

    We can help!

    Listing Contact
    Clayton Primm

    Listing agent Clayton Primm License #(S):CO:FA100024161

    Listing office Marcus & Millichap - Denver

    Listing date Apr 24, 2026

    Source Elliman

    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 Marcus & Millichap - Denver

    HighLights

    • Prime location in Denver's Cheesman Park neighborhood, a highly desirable rental market.
    • Value‑add opportunity to increase income by charging for utilities, pets, and laundry.
    • New boiler installed in 2024.
    • Mix of eight one‑bedroom and one two‑bedroom units with upgrades.
    • Excellent walkability (93 Walk Score) and bikeability (99 Bike Score).
    • Low maintenance: zero landscaping and street parking only.

    Overview

    This nine-unit multifamily property is located in Denver’s historic Cheesman Park neighborhood, a popular rental market. Situated on a quiet residential block with primarily owner-occupied houses, the property is within walking distance of Cheesman Park. Constructed in 1928, the all-brick building occupies a 4,690-SF lot. The unit mix comprises eight one-bedroom units and one two-bedroom unit, all of which have been upgraded over the past 10 years. The main boiler, which provides heat to the building, was completely replaced in 2024, with plumbing and electrical systems replaced in 2007. The building is individually metered for electricity, which is paid directly by the residents. The property is master metered for gas and water, which the owner pays. There is an on-site laundry facility that is currently free for residents. The property requires zero landscaping maintenance and relies on street parking. This property presents a value-add opportunity for investors to increase rent to market rates and generate additional income by charging for utilities, pets, and laundry. The bike score is 99, indicating it is a biker's paradise. The walk score is 93, indicating it is a walker's paradise. The transit score is 69, indicating good transit options.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Denver
    County
    Arapahoe
    State
    Colorado
    Longitude
    -104.9698548
    Latitude
    39.7379828

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    FAQs

    What type of property is this?
    Apartment building - Nine-unit apartment building in Denver's Cheesman Park neighborhood.
    Where is this apartment building located?
    The property is located at 1361 N Humboldt St Denver, CO.
    What is the asking price?
    The asking price for this property is $1,175,000.
    What are key features of this property?
    This property features: Prime location in Denver's Cheesman Park neighborhood, a highly desirable rental market.; Value‑add opportunity to increase income by charging for utilities, pets, and laundry.; New boiler installed in 2024.
    (303) 328-2075
    We can help!
    Listing Contact
    Clayton Primm
    Real Estate License ID: (S):CO:FA100024161
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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