5-Unit Apartment
For Sale
Contact for pricing
1320 Saint Paul Street, Denver, CO 80206
Renovated units, on-site laundry, and two garage spaces add practical features for residents.
Property Size2,816 SF
Price / SF$355.11
Days on Market8
Property Features for 1320 Saint Paul Street
General Information
Standard status
Active
Size
2,816 SF
Total Parking Spaces
2
Property subtype
Multifamily
Zoning
U-RH-3A
Net Operating Income
$56,523
Units
Unit Mix
2 x studio, 3 x 1BR/1BA
Multifamily Units
5
Additional Details
Utilities to Site
Yes
Amenities
on-site laundry
Building Details
Year Built
1924
Buildings
1
Units
5
Tenancy
Multi
Listing Agency:
NORTHPEAK Commercial Advisors
Listed By:
Hunter Schaefer · License #FA100086469
Source:
Crexi
Added: Aug 4
Changed: Aug 10
Last Checked: Aug 10 at 8:16AM
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
Investment Insights
Based on property information with market context.
This 2,816-square-foot apartment property contains five units configured as two studios and three one-bedroom, one-bath residences. Constructed in 1924, the building includes an on-site laundry room and two income-producing garage spaces. Improvements include remodeling in the third-floor and basement units, light updates elsewhere, three mini-split air-conditioning systems, second-floor replacement windows, electrical upgrades, an egress window, skylight, and updated appliances. Utilities are billed back to tenants in addition to rent.
The property is located at 1320 Saint Paul Street in Denver’s Congress Park neighborhood. A walk score of 84 places shopping, dining, the Botanical Gardens, and transportation within convenient walking distance. The property is zoned U-RH-3A.
The property is located at 1320 Saint Paul Street in Denver’s Congress Park neighborhood. A walk score of 84 places shopping, dining, the Botanical Gardens, and transportation within convenient walking distance. The property is zoned U-RH-3A.
Key Highlights
- Five‑unit apartment building with two studios and three 1‑bed/1‑bath units
- 2,816 SF building constructed in 1924
- Third‑floor and basement units completely remodeled
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
$42,757
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
4.28%
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%
$855,140
$855.1K
Cap Rate 7%
$610,814
$610.8K
Cap Rate 9%
$475,078
$475.1K
Market Conditions
NOI Build-Up for 2,816 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
$82.8K $29.40/SF
− Vacancy
−$5.1K −$1.79/SF
EGI
$77.7K $27.61/SF
− OpEx
−$35.0K −$12.42/SF
NOI
$42.8K $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%
$855,140
Cap Rate 7%
$610,814
Cap Rate 9%
$475,078
Alternative Uses
Best Use
Apartment 5plus
$610.8K
$534.5K – $712.6K
NOI $42,757 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$896.4K
$784.4K – $1.05M
NOI $62,750 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,916
Businesses Nearby
Explore this area
Business Placement
Demographics for 80206, CO
26,108
Population
15,580
Households
1.7
Avg Household Size
38
Median Age
78%
College-Educated
97%
High-School Grad
2.5 sq mi
ZIP Area
10,443
Density / Sq Mi
$102,248
Median Household Income
$69,908
Median Earnings
$1,694
Median Rent
$892,200
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 - Renovated units, on-site laundry, and two garage spaces add practical features for residents.
Where is this apartment building located?
The property is located at 1320 Saint Paul Street Denver, CO.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Five‑unit apartment building with two studios and three 1‑bed/1‑bath units; 2,816 SF building constructed in 1924; Third‑floor and basement units completely remodeled
