Denver Multifamily Near Cheesman
For Sale
$1,100,000
1360 N Franklin Street, Denver, CO 80218
Charming, renovated six-unit property near Cheesman Park in Denver.
Property Size4,604 SF
Lot Size0.11 Acres
Price / SF$238.92
Days on Market279
Property Features for 1360 N Franklin Street
General Information
Standard status
Active
Size
4,604 SF
Lot size
0.11 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$6,758
Building Details
Building Size
4,604 SF
Year Built
1901
Listing Agency:
Kaufman Hagan
(720) 984-0419
Listed By:
Teal Nipp Hagan · License #ER100049712
Source:
Corken
Added: Nov 25, 2025
Changed: Aug 23
Last Checked: Aug 30 at 9:07PM
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 Kaufman Hagan
Investment Insights
Based on property information with market context.
This six-unit multifamily property is located half a block from Cheesman Park in Denver. Constructed in 1901, the 4,604-square-foot building retains its original architectural character, complemented by renovated one-bedroom, one-bathroom units. Each unit includes private outdoor space in the form of a balcony or porch. The property includes a large backyard and four off-street parking spaces. The building features brick construction and a pitched roof. Heating is provided by a gas furnace, and air conditioning is window-mounted. The property is zoned U-RH-3A. Situated in a sought-after central Denver neighborhood, the location offers walkability to parks, retail, dining, and transit. The 4,687-square-foot lot is located in one of Denver’s desirable and historically rich neighborhoods. The property has individual gas and electric meters, with master water and sewer. The building has three stories.
Key Highlights
- Premier Denver location: Half a block from Cheesman Park, with exceptional walkability to parks, retail, dining, and transit.
- Six fully renovated 1BD/1BA units with modern finishes.
- Each unit includes private outdoor space (balcony or porch).
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
$69,905
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
6.35%
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%
$1,398,100
$1.4M
Cap Rate 7%
$998,643
$998.6K
Cap Rate 9%
$776,722
$776.7K
Market Conditions
NOI Build-Up for 4,604 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
$135.4K $29.40/SF
− Vacancy
−$8.3K −$1.79/SF
EGI
$127.1K $27.61/SF
− OpEx
−$57.2K −$12.42/SF
NOI
$69.9K $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%
$1,398,100
Cap Rate 7%
$998,643
Cap Rate 9%
$776,722
Alternative Uses
Best Use
Apartment 5plus
$998.6K
$873.8K – $1.17M
NOI $69,905 @ 7.0% cap · market cap 6.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,593 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,422
Businesses Nearby
Explore this area
Business Placement
Demographics for 80218, CO
19,484
Population
13,116
Households
1.5
Avg Household Size
35
Median Age
72%
College-Educated
98%
High-School Grad
1.6 sq mi
ZIP Area
12,178
Density / Sq Mi
$82,925
Median Household Income
$67,570
Median Earnings
$1,475
Median Rent
$653,900
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 - Charming, renovated six-unit property near Cheesman Park in Denver.
Where is this apartment building located?
The property is located at 1360 N Franklin 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: Premier Denver location: Half a block from Cheesman Park, with exceptional walkability to parks, retail, dining, and transit.; Six fully renovated 1BD/1BA units with modern finishes.; Each unit includes private outdoor space (balcony or porch).
