Denver Multifamily Investment
For Sale
$1,950,000
2143 N Lafayette St, Denver, CO 80205
13-unit multifamily property in Denver's Whittier neighborhood.
Property Size7,100 SF
Price / SF$274.65
Days on Market146
Property Features for 2143 N Lafayette St
General Information
Standard status
Active
Size
7,100 SF
Building Details
Year Built
1893
Listing Agency:
MMGREA LLC
Listed By:
Jason Koch · License #100017489
(303) 918-8909
Source:
Thecouturegroup
Added: Apr 24
Changed: Sep 8
Last Checked: Sep 14 at 3:15PM
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 MMGREA LLC
Investment Insights
Based on property information with market context.
The property at 2139-2151 Lafayette Street is a 13-unit multifamily building located in Denver’s Whittier neighborhood. Constructed in 1930, the property is situated on a residential street with walkable access to Uptown’s restaurants, Cheesman Park, and the 17th Avenue corridor. The property offers a value-add opportunity through renovations and unit upgrades upon turnover, as current rents are below market value. The location benefits from a bike score of 99, indicating it is a biker's paradise, a walk score of 93, indicating it is a walker's paradise, and a transit score of 69, indicating good transit options. The property is optimally sized for lean management, benefiting from economies of scale while remaining manageable without on-site staff or complex infrastructure.
Key Highlights
- Prime location in Denver's Whittier neighborhood with walkable access to Uptown's restaurants, Cheesman Park, and the 17th Avenue corridor.
- Significant value‑add opportunity through renovations and unit upgrades to increase rents to market rates.
- Optimally sized 13‑unit building for lean, owner‑friendly management and economies of scale.
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
$107,804
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
5.53%
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%
$2,156,080
$2.2M
Cap Rate 7%
$1,540,057
$1.5M
Cap Rate 9%
$1,197,822
$1.2M
Market Conditions
NOI Build-Up for 7,100 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
$208.7K $29.40/SF
− Vacancy
−$12.7K −$1.79/SF
EGI
$196.0K $27.61/SF
− OpEx
−$88.2K −$12.42/SF
NOI
$107.8K $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%
$2,156,080
Cap Rate 7%
$1,540,057
Cap Rate 9%
$1,197,822
Alternative Uses
Best Use
Apartment 5plus
$1.54M
$1.35M – $1.80M
NOI $107,804 @ 7.0% cap · market cap 5.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,213 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,688
Businesses Nearby
Explore this area
Business Placement
Demographics for 80205, CO
34,967
Population
19,040
Households
1.8
Avg Household Size
34
Median Age
61%
College-Educated
94%
High-School Grad
4.6 sq mi
ZIP Area
7,602
Density / Sq Mi
$98,770
Median Household Income
$69,760
Median Earnings
$1,816
Median Rent
$627,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - 13-unit multifamily property in Denver's Whittier neighborhood.
Where is this apartment building located?
The property is located at 2143 N Lafayette St Denver, CO.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Prime location in Denver's Whittier neighborhood with walkable access to Uptown's restaurants, Cheesman Park, and the 17th Avenue corridor.; Significant value‑add opportunity through renovations and unit upgrades to increase rents to market rates.; Optimally sized 13‑unit building for lean, owner‑friendly management and economies of scale.
