Student Housing Apartment
For Sale
$4,500,000
1325-1395 19th St, Boulder, CO 80302
Two-building residential asset with RH-1 zoning, on-site parking, and proximity to CU Boulder and The Hill.
Property Size8,584 SF
Lot Size0.32 Acres
Price / SF$524.23
Days on Market43
Property Features for 1325-1395 19th St
General Information
Standard status
Active
Size
8,584 SF
Total Parking Spaces
15
Lot size
0.32 Acres
Zoning
RH-1
Occupancy
100%
Financials
Asking Price
$4,500,000
Gross Income
$319,860
Units
Unit Mix
4 x 3BD/1.5BA, 4 x 2BD/1.5BA, 1 x 4BD/1.5BA
Multifamily Units
9
Building Details
Buildings
2
Tenancy
Multi
Listing Agency:
eXp Commercial - CA
(415) 802-1400
Listed By:
Brian Merrion · License #01940486
(415) 802-1400
Source:
Expcommercial
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 30 at 12:54PM
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 eXp Commercial - CA
Investment Insights
Based on property information with market context.
This apartment property comprises two buildings totaling 9 units and 24 beds. The primary structure is an 8-unit, two-story townhome-style building with four 3BD/1.5BA units and four 2BD/1.5BA units. A detached 4BD/1.5BA cottage completes the offering. Combined building area is 8,584 SF, and the 13,963 SF parcel provides 15 on-site parking spaces. The property is 100% occupied and has an established university-rental history.
Located one block from CU Boulder and The Hill, the asset sits on a corner lot at 19th and Marine. RH-1 zoning is identified for the property, and the site is positioned within walking distance of the university. The 1395 building received a complete roof replacement in 2025. Due diligence materials include 2025 operating financials, a current rent roll, a professional inspection report, and sewer scope reports for both buildings.
Located one block from CU Boulder and The Hill, the asset sits on a corner lot at 19th and Marine. RH-1 zoning is identified for the property, and the site is positioned within walking distance of the university. The 1395 building received a complete roof replacement in 2025. Due diligence materials include 2025 operating financials, a current rent roll, a professional inspection report, and sewer scope reports for both buildings.
Key Highlights
- 9 units and 24 beds across two buildings
- 8,584 SF of total building area on a 13,963 SF RH‑1 corner lot
- Unit mix includes four 3BD/1.5BA, four 2BD/1.5BA, and one 4BD/1.5BA cottage
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
$135,262
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
3.01%
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%
$2,705,240
$2.7M
Cap Rate 7%
$1,932,314
$1.9M
Cap Rate 9%
$1,502,911
$1.5M
Market Conditions
NOI Build-Up for 8,584 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
$257.5K $30.00/SF
− Vacancy
−$11.6K −$1.35/SF
EGI
$245.9K $28.65/SF
− OpEx
−$110.7K −$12.89/SF
NOI
$135.3K $15.76/SF
Area
Boulder, CO
Vacancy
4.50%
Lease Rate
$30.00 /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%
$2,705,240
Cap Rate 7%
$1,932,314
Cap Rate 9%
$1,502,911
Alternative Uses
Best Use
Apartment 5plus
$1.93M
$1.69M – $2.25M
NOI $135,262 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.90M
$2.54M – $3.38M
NOI $203,049 @ 7.0% cap · market cap 4.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
9
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,875
Businesses Nearby
Explore this area
Business Placement
Demographics for 80302, CO
27,322
Population
13,556
Households
2
Avg Household Size
29
Median Age
75%
College-Educated
98%
High-School Grad
93.9 sq mi
ZIP Area
291
Density / Sq Mi
$60,649
Median Household Income
$19,586
Median Earnings
$1,850
Median Rent
$1,123,800
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 - Two-building residential asset with RH-1 zoning, on-site parking, and proximity to CU Boulder and The Hill.
Where is this apartment building located?
The property is located at 1325-1395 19th St Boulder, CO.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 9 units and 24 beds across two buildings; 8,584 SF of total building area on a 13,963 SF RH‑1 corner lot; Unit mix includes four 3BD/1.5BA, four 2BD/1.5BA, and one 4BD/1.5BA cottage
