Denver Multifamily Investment
1361 Humboldt Street Denver, CO 80218
1361 Humboldt Street, Denver, CO, 80218
$1,300,000
For Sale
$1,300,000
Nine-unit multifamily property in Denver's Cheesman Park neighborhood.
Property Size4,519 SF
Price / SF$287.67
Days on Market419
Property Features for 1361 Humboldt Street
General Information
- Standard status
- Active
- Size
- 4,519 SF
Building Details
- Year Built
- 1928
Listing agency
MARCUS & MILLICHAP REAL ESTATE INVESTMENT SERVICES OF ATLANTA, INC.
Listed by
CLAYTON PRIMM
Source
Corcoran
Added: May 29, 2025 Updated: Mar 16 at 9:09AM Checked: Mar 16 at 9:09AM
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 MARCUS & MILLICHAP REAL ESTATE INVESTMENT SERVICES OF ATLANTA, INC.
Investment Insights
Based on property information with market context.
Located in Denver's Cheesman Park neighborhood, 1361 Humboldt Street is a nine-unit multifamily property. Constructed in 1928, the all-brick building is situated on a 4,690-SF lot. The property comprises eight one-bedroom units and one two-bedroom unit, all of which have been upgraded over the past 10 years. The building features a pitched roof estimated to be 15 years old, along with updated systems and mechanicals. The main boiler, which provides heat, was replaced in 2024, while the plumbing and electrical systems were updated in 2007. The property is individually metered for electricity, which is paid directly by the residents. Gas and water are master metered, with the owner covering the costs, which are not currently reimbursed by the residents. An on-site laundry facility is available to residents at no charge. The property requires minimal landscaping and relies on street parking, eliminating the need for parking lot maintenance. This property presents a value-add opportunity for investors to increase rents to market rates and generate additional income by charging for utilities, pets, and laundry services. The 80-acre Cheesman Park, with its open spaces, the Denver Botanical Gardens, and various events, is within walking distance. The surrounding area features a dense residential population, along with restaurants and bars.
Key Highlights
- Prime Location in Denver's desirable Cheesman Park neighborhood, offering access to the 80‑acre Cheesman Park, Denver Botanical Gardens, restaurants, and bars.
- Value‑Add Opportunity: Significant potential to increase income by raising rents and implementing charges for utilities, pets, and laundry.
- Updated Systems: Features a new boiler installed in 2024 and plumbing/electrical updates in 2007.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $132.9k | $29.40 |
| − Vacancy | −$8.1k | −$1.79 |
| EGI | $124.8k | $27.61 |
| − OpEx | −$56.1k | −$12.42 |
| NOI | $68.6k | $15.18 |
4,519 SF · lease $29.40/SF/yr · vacancy 6.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$980.2K
$857.7K – $1.14M
NOI $68,615 @ 7.0% cap · market cap 5.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,699 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Nine-unit multifamily property in Denver's Cheesman Park neighborhood.
Where is this apartment building located?
The property is located at 1361 Humboldt Street Denver, CO.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Prime Location in Denver's desirable Cheesman Park neighborhood, offering access to the 80‑acre Cheesman Park, Denver Botanical Gardens, restaurants, and bars.; Value‑Add Opportunity: Significant potential to increase income by raising rents and implementing charges for utilities, pets, and laundry.; Updated Systems: Features a new boiler installed in 2024 and plumbing/electrical updates in 2007.
