Three-Unit Residential Income
For Sale
$1,950,000
1273-1283 Meade St, Denver, CO 80204
Built in 2024, this three-unit property features separate utility metering for each unit.
Property Size7,181 SF
Price / SF$271.55
Days on Market8
Property Features for 1273-1283 Meade St
General Information
Standard status
Active
Size
7,181 SF
Property subtype
Investment
Zoning
G-MU-3
Lease Term
Flexible
Additional Details
Multifamily Units
3
Building Details
Building Size
7,181 SF
Year Built
2024
Tenancy
Multi
Listing Agency:
Unique Properties, Inc.
(201) 274-5768
Listed By:
Brett MacDougall · License #FA.100049630
(201) 274-5768
Source:
Elliman
Added: Jul 24
Changed: Jul 26
Last Checked: Jul 31 at 12:35PM
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 Unique Properties, Inc.
Investment Insights
Based on property information with market context.
This 7,181 SF residential income property consists of three units in a single building, constructed in 2024. The setup includes separate utility metering for each unit, with tenants maintaining their own utility accounts in addition to monthly rent.
The property is located at 1273–1283 Meade St in Denver, CO. Public remarks note proximity to the RTD Light Rail, with the Perry St Light Rail Station listed as 4.5 blocks away.
According to the provided information, the property is under G-MU-3 zoning and is described as requiring low management responsibilities due to the separate utility metering arrangement.
The property is located at 1273–1283 Meade St in Denver, CO. Public remarks note proximity to the RTD Light Rail, with the Perry St Light Rail Station listed as 4.5 blocks away.
According to the provided information, the property is under G-MU-3 zoning and is described as requiring low management responsibilities due to the separate utility metering arrangement.
Key Highlights
- Built in 2024: 7,181 SF multifamily building with 3 units
- G‑MU‑3 zoning
- Separate utility metering for each unit; tenants pay utilities via their own accounts
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $181.0k | $25.20 |
| − Vacancy | −$10.5k | −$1.46 |
| EGI | $170.5k | $23.74 |
| − OpEx | −$51.1k | −$7.12 |
| NOI | $119.3k | $16.62 |
7,181 SF · lease $25.20/SF/yr · vacancy 5.79% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.70M
$1.49M – $1.99M
NOI $119,338 @ 7.0% cap · market cap 6.12%
Second Best
Apartment 5plus
$1.56M
$1.36M – $1.82M
NOI $109,034 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$2.29M
$2.00M – $2.67M
NOI $160,018 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
999
Businesses Nearby
Explore this area
Business Placement
Demographics for 80204, CO
35,269
Population
18,378
Households
1.9
Avg Household Size
33
Median Age
51%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
6,413
Density / Sq Mi
$79,265
Median Household Income
$58,860
Median Earnings
$1,724
Median Rent
$579,900
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?
Triplex - Built in 2024, this three-unit property features separate utility metering for each unit.
Where is this triplex located?
The property is located at 1273-1283 Meade 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: Built in 2024: 7,181 SF multifamily building with 3 units; G‑MU‑3 zoning; Separate utility metering for each unit; tenants pay utilities via their own accounts
