Six-Unit Apartment
For Sale
Contact for pricing
127 N PEARL ST, Denver, CO 80203
Five one-bedroom units and one studio provide a compact multifamily configuration with tenant-paid electric and individual utility metering.
Property Size3,750 SF
Price / SF$400
Days on Market133
Property Features for 127 N PEARL ST
General Information
Standard status
Active
Size
3,750 SF
Property subtype
Multifamily
Zoning
U-TU-B2
Investment Type
Value Add
Net Operating Income
$46,349
Units
Unit Mix
5 x 1BR, 1 x studio
Multifamily Units
6
Additional Details
Road Access
Yes
Building Details
Year Built
1922
Buildings
1
Stories
2
Units
6
Listing Agency:
Centennial Advisers
(714) 231-2537
Listed By:
Will Garrett · License #FA.100110702
Source:
Crexi
Added: Apr 23
Changed: Aug 30
Last Checked: Sep 1 at 7:50AM
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 Centennial Advisers
Investment Insights
Based on property information with market context.
This apartment property contains 3,750 square feet arranged as six units: five one-bedroom residences and one studio. Constructed in 1922, the building is zoned U-TU-B2 and uses individual utility metering, with tenants responsible for electric service.
The property is located at 127 N Pearl St in Denver, approximately a block and a half from Speer Boulevard. Its Walk Score is 96 and Bike Score is 98, with access to pedestrian-oriented streets, nearby bike lanes, and Speer Boulevard connections toward Downtown Denver and Cherry Creek.
The unit mix combines predominantly one-bedroom layouts with a studio component, offering a defined small-scale apartment configuration in an urban setting.
The property is located at 127 N Pearl St in Denver, approximately a block and a half from Speer Boulevard. Its Walk Score is 96 and Bike Score is 98, with access to pedestrian-oriented streets, nearby bike lanes, and Speer Boulevard connections toward Downtown Denver and Cherry Creek.
The unit mix combines predominantly one-bedroom layouts with a studio component, offering a defined small-scale apartment configuration in an urban setting.
Key Highlights
- 3,750 SF apartment property with 6 total units
- Unit mix includes five 1‑bedroom units and one studio unit
- Individual utility metering with tenant‑paid electric
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
$56,939
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
3.80%
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%
$1,138,780
$1.1M
Cap Rate 7%
$813,414
$813.4K
Cap Rate 9%
$632,656
$632.7K
Market Conditions
NOI Build-Up for 3,750 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
$110.3K $29.40/SF
− Vacancy
−$6.7K −$1.79/SF
EGI
$103.5K $27.61/SF
− OpEx
−$46.6K −$12.42/SF
NOI
$56.9K $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%
$1,138,780
Cap Rate 7%
$813,414
Cap Rate 9%
$632,656
Alternative Uses
Best Use
Apartment 5plus
$813.4K
$711.7K – $949.0K
NOI $56,939 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,563 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,874
Businesses Nearby
Explore this area
Business Placement
Demographics for 80203, CO
22,883
Population
16,887
Households
1.4
Avg Household Size
33
Median Age
69%
College-Educated
97%
High-School Grad
1.1 sq mi
ZIP Area
20,803
Density / Sq Mi
$74,654
Median Household Income
$59,229
Median Earnings
$1,569
Median Rent
$462,500
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 - Five one-bedroom units and one studio provide a compact multifamily configuration with tenant-paid electric and individual utility metering.
Where is this apartment building located?
The property is located at 127 N PEARL ST Denver, CO.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 3,750 SF apartment property with 6 total units; Unit mix includes five 1‑bedroom units and one studio unit; Individual utility metering with tenant‑paid electric
