Seven-Unit Apartment
5881-5895 W 11th Avenue Lakewood, CO 80214
New
For Sale
$1,125,000
Well-maintained seven-unit apartment building with private outdoor spaces, ample parking, and R-4 zoning on a 1/3-acre lot.
Lot Size0.33 Acres
Days on Market3
Property Features for 5881-5895 W 11th Avenue
General Information
Standard status
Active
Lot size
0.33 Acres
Property subtype
Commercial
Building Details
Year Built
1960
Listing Agency:
NorthPeak Commercial Advisors, LLC
(720) 939-2943
Listed By:
Joe Hornstein · License #40032215
(720) 939-2943
Source:
Coloradopartners
Added: Jul 28
Changed: Jul 29
Last Checked: Jul 29 at 3:07PM
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 NorthPeak Commercial Advisors, LLC
Investment Insights
Based on property information with market context.
5881-5895 W 11th Avenue is a seven-unit multifamily apartment building built in 1960, offering a mix of one bedroom, two bedroom, and three bedroom units. The property provides tenants private outdoor spaces and ample parking, and it sits on a well-maintained one-third-acre lot.
Located in Lakewood, Colorado, the asset is described as being in a quiet residential setting while also in the path of nearby development. To the east are newer developments, including Dry Gulch Condominiums, a 28,000 SF project built in 2022.
The lot is zoned R-4 and is positioned for future development considerations. The current configuration and on-site amenities may support continued multifamily use while offering flexibility for prospective buyers to evaluate next steps for the site.
Located in Lakewood, Colorado, the asset is described as being in a quiet residential setting while also in the path of nearby development. To the east are newer developments, including Dry Gulch Condominiums, a 28,000 SF project built in 2022.
The lot is zoned R-4 and is positioned for future development considerations. The current configuration and on-site amenities may support continued multifamily use while offering flexibility for prospective buyers to evaluate next steps for the site.
Key Highlights
- Seven units with one-, two-, and three‑bedroom unit mix
- Private outdoor spaces for tenants plus ample on‑site parking
- Well‑maintained one‑third‑acre lot zoned R‑4
Financial Insights For Apartment 5plus
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 | $140.0k | $24.60 |
| − Vacancy | −$8.4k | −$1.48 |
| EGI | $131.6k | $23.12 |
| − OpEx | −$59.2k | −$10.41 |
| NOI | $72.4k | $12.72 |
5,692 SF · lease $24.60/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.03M
$904.9K – $1.21M
NOI $72,392 @ 7.0% cap · market cap 6.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.49M – $1.99M
NOI $119,341 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained seven-unit apartment building with private outdoor spaces, ample parking, and R-4 zoning on a 1/3-acre lot.
Where is this apartment building located?
The property is located at 5881-5895 W 11th Avenue Lakewood, CO.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: Seven units with one-, two-, and three‑bedroom unit mix; Private outdoor spaces for tenants plus ample on‑site parking; Well‑maintained one‑third‑acre lot zoned R‑4
