Charming Congress Park Apartment
For Sale
$1,100,000
1320 Saint Paul Street, Denver, CO 80206
Five-unit apartment building in Congress Park with recent renovations.
Property Size2,816 SF
Price / SF$390.63
Days on Market452
Property Features for 1320 Saint Paul Street
General Information
Standard status
Active
Size
2,816 SF
Taxes and HOA fees
Annual Taxes
$4,396
Building Details
Year Built
1924
Listing Agency:
NORTHPEAK COMMERCIAL ADVISORS, LLC
(720) 738-1944
Listed By:
JACK SHERMAN · License #FA 100085430
Source:
Corcoran
Added: May 29, 2025
Changed: Mar 16
Last Checked: Aug 23 at 10:52AM
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 NORTHPEAK COMMERCIAL ADVISORS, LLC
Investment Insights
Based on property information with market context.
Located in the Congress Park neighborhood, 1320 Saint Paul St. is a 5-unit apartment building. The property has a walk score of 84, providing convenient access to shopping, dining, the Botanical Gardens, and transportation. The unit mix includes two studios and three 1-bed/1-bath apartments. The third-floor and basement units have been remodeled, with light touch-ups to the other three units. The property includes two income-producing garage spaces. Renovations include three mini-split A/Cs, new windows on the 2nd floor, updated electrical systems, an added egress window, skylight, and appliances. There is an on-site laundry room for tenants, and all utilities are billed back on top of the rent. The building size is 2816 square feet.
Key Highlights
- Prime location in the coveted Congress Park neighborhood with a high walk score of 84, offering easy access to amenities.
- Income‑producing property with a mix of (2) studios and (3) 1bed/1bath units.
- Recent extensive renovations including mini‑split A/C units, new windows, updated electrical systems, and added egress window.
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
3.89%
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 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$896.4K
$784.4K – $1.05M
NOI $62,750 @ 7.0% cap · market cap 5.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 - Five-unit apartment building in Congress Park with recent renovations.
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 $1,100,000.
What are key features of this property?
This property features: Prime location in the coveted Congress Park neighborhood with a high walk score of 84, offering easy access to amenities.; Income‑producing property with a mix of (2) studios and (3) 1bed/1bath units.; Recent extensive renovations including mini‑split A/C units, new windows, updated electrical systems, and added egress window.
