Brick Quadplex with Off-Street
New
For Sale
$765,000
1524 Jasmine St, Denver, CO 80220
Multifamily property with shared laundry, individual storage, and tenant-paid utilities.
Property Size2,638 SF
Days on Market4
Property Features for 1524 Jasmine St
General Information
Standard status
Active
Size
2,638 SF
Total Parking Spaces
4
Property subtype
Investment
Lease Term
Month-to-month
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,722
Amenities
shared laundry
on-site storage
Building Details
Building Size
2,638 SF
Year Built
1955
Buildings
1
Construction
brick
Listing Agency:
(808) 518-0288
Listed By:
Juliet Lalouel
(808) 518-0288
Source:
Elliman
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 11 at 8:52AM
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 Juliet Lalouel
Investment Insights
Based on property information with market context.
This 1955 brick quadplex contains four income-producing residences supported by separately metered gas and electricity, with utility costs paid by the tenants. The property includes shared ground-level laundry, individual on-site storage, four dedicated off-street parking spaces, and additional street parking along Jasmine Street. Recent work includes part of the sewer line, an electrical breaker panel, and selected appliances.
Lease terms currently comprise three month-to-month tenancies and one annual lease. An owner-occupant may be able to reside in one unit while collecting rent from the others, subject to existing agreements and applicable notice requirements. Interior photographs depict Units 2–4; Unit 1 and the common laundry area are not shown.
The property is located in Denver’s South Park Hill neighborhood, near City Park, the Denver Zoo, the Denver Museum of Nature & Science, and 17th Avenue Parkway. Shops, restaurants, coffeehouses, transit routes, and major thoroughfares connect the property with downtown Denver, Cherry Creek, the Anschutz Medical Campus, and surrounding employment centers.
Lease terms currently comprise three month-to-month tenancies and one annual lease. An owner-occupant may be able to reside in one unit while collecting rent from the others, subject to existing agreements and applicable notice requirements. Interior photographs depict Units 2–4; Unit 1 and the common laundry area are not shown.
The property is located in Denver’s South Park Hill neighborhood, near City Park, the Denver Zoo, the Denver Museum of Nature & Science, and 17th Avenue Parkway. Shops, restaurants, coffeehouses, transit routes, and major thoroughfares connect the property with downtown Denver, Cherry Creek, the Anschutz Medical Campus, and surrounding employment centers.
Key Highlights
- Four‑residence brick quadplex built in 1955
- Separately metered gas and electricity; tenants pay utility costs
- Three month‑to‑month tenancies and one annual lease
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
$43,840
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
5.73%
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%
$876,800
$876.8K
Cap Rate 7%
$626,286
$626.3K
Cap Rate 9%
$487,111
$487.1K
Market Conditions
NOI Build-Up for 2,638 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
$66.5K $25.20/SF
− Vacancy
−$3.8K −$1.46/SF
EGI
$62.6K $23.74/SF
− OpEx
−$18.8K −$7.12/SF
NOI
$43.8K $16.62/SF
Area
Denver, CO
Vacancy
5.79%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$876,800
Cap Rate 7%
$626,286
Cap Rate 9%
$487,111
Alternative Uses
Best Use
Multifamily LT 5
$626.3K
$548.0K – $730.7K
NOI $43,840 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$572.2K
$500.7K – $667.6K
NOI $40,054 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$839.8K
$734.8K – $979.7K
NOI $58,784 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
914
Businesses Nearby
Explore this area
Business Placement
Demographics for 80220, CO
37,233
Population
17,675
Households
2.1
Avg Household Size
37
Median Age
66%
College-Educated
94%
High-School Grad
5.2 sq mi
ZIP Area
7,160
Density / Sq Mi
$101,961
Median Household Income
$61,568
Median Earnings
$1,621
Median Rent
$739,600
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?
Quadplex - Multifamily property with shared laundry, individual storage, and tenant-paid utilities.
Where is this quadplex located?
The property is located at 1524 Jasmine St Denver, CO.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: Four‑residence brick quadplex built in 1955; Separately metered gas and electricity; tenants pay utility costs; Three month‑to‑month tenancies and one annual lease
