1982 Vintage Multifamily
For Sale
Contact for pricing
1380 W Mississippi Ave, Denver, CO 80223
24-unit multifamily with recent windows, roof, electrical upgrades, and exterior improvements for practical, ongoing operations.
Property Size16,067 SF
Price / SF$217.22
Days on Market143
Property Features for 1380 W Mississippi Ave
General Information
Standard status
Active
Size
16,067 SF
Class
C
Total Parking Spaces
30
Property subtype
Multifamily
Zoning
G-MU-5
Investment Type
Stabilized
Net Operating Income
$250,086
Site & Location
Neighborhood
Ruby Hill
Fenced Yard
Yes
Additional Details
Multifamily Units
24
Building Details
Year Built
1982
Buildings
1
Stories
3
Units
24
Tenancy
Multi
Listing Agency:
Kaufman Hagan Commercial Real Estate
Listed By:
Brandon Kaufman · License #FA100071442
(303) 547-7357
Source:
Crexi
Added: Jun 3
Changed: Oct 14
Last Checked: Oct 23 at 5:34AM
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 Commercial Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The Riverpoint is a 24-unit multifamily property built in 1982. The unit mix includes 17 one-bedroom apartments and 7 two-bedroom apartments, set within a thoughtfully maintained 1982 building. Ownership has already completed upgrades across major systems and key exterior components, including new windows, a newer roof, upgraded electrical panels, a refinished parking lot, new perimeter fencing, and rebuilt exterior stairs.
Located in Denver’s Ruby Hill submarket at 1380 W Mississippi Avenue, the property is within blocks of Overland Golf Course, the South Platte River trail system, and the South Broadway retail corridor. The Riverpoint is approximately one mile west of Denver Summit FC’s new Santa Fe Yards stadium, scheduled to deliver in 2028, and roughly three miles south of Burnham Yard, the Broncos’ proposed site for a new stadium and 100+ acre mixed-use district targeting a 2031 opening. The property also sits within the boundaries of Denver’s Southwest Area Plan, adopted by City Council in March 2026 to guide public investment in housing, mobility, parks, the South Platte River corridor, and the Federal Boulevard commercial spine.
For investors and operators, the Riverpoint’s mix of one- and two-bedroom apartments can support a range of resident needs, while the completed improvements to windows, roof, electrical, and exterior infrastructure help reduce near-term capital exposure compared with properties that have not received these upgrades. The remaining unrenovated portion of the units provides a straightforward interior path for continued value creation.
Located in Denver’s Ruby Hill submarket at 1380 W Mississippi Avenue, the property is within blocks of Overland Golf Course, the South Platte River trail system, and the South Broadway retail corridor. The Riverpoint is approximately one mile west of Denver Summit FC’s new Santa Fe Yards stadium, scheduled to deliver in 2028, and roughly three miles south of Burnham Yard, the Broncos’ proposed site for a new stadium and 100+ acre mixed-use district targeting a 2031 opening. The property also sits within the boundaries of Denver’s Southwest Area Plan, adopted by City Council in March 2026 to guide public investment in housing, mobility, parks, the South Platte River corridor, and the Federal Boulevard commercial spine.
For investors and operators, the Riverpoint’s mix of one- and two-bedroom apartments can support a range of resident needs, while the completed improvements to windows, roof, electrical, and exterior infrastructure help reduce near-term capital exposure compared with properties that have not received these upgrades. The remaining unrenovated portion of the units provides a straightforward interior path for continued value creation.
Key Highlights
- 24‑unit multifamily property built in 1982 at 1380 W Mississippi Avenue (Denver’s Ruby Hill submarket).
- Unit mix: 17 one‑bedroom and 7 two‑bedroom apartments.
- Capital improvements include new windows, a newer roof, upgraded electrical panels, and rebuilt exterior stairs.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$243,955
Cap Rate
6.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,879,100
$4.9M
Cap Rate 7%
$3,485,071
$3.5M
Cap Rate 9%
$2,710,611
$2.7M
Market Conditions
NOI Build-Up for 16,067 SF
Gross rent
$472.4K $29.40/SF
− Vacancy
−$28.8K −$1.79/SF
EGI
$443.6K $27.61/SF
− OpEx
−$199.6K −$12.42/SF
NOI
$244.0K $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 Rate 5%
$4,879,100
Cap Rate 7%
$3,485,071
Cap Rate 9%
$2,710,611
Alternative Uses
Best Use
Apartment 5plus
$3.49M
$3.05M – $4.07M
NOI $243,955 @ 7.0% cap · market cap 6.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.11M
$4.48M – $5.97M
NOI $358,029 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Lease Details
24
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
858
Businesses Nearby
Explore this area
Business Placement
Demographics for 80223, CO
19,862
Population
9,532
Households
2.1
Avg Household Size
34
Median Age
46%
College-Educated
87%
High-School Grad
5.3 sq mi
ZIP Area
3,748
Density / Sq Mi
$80,461
Median Household Income
$50,567
Median Earnings
$1,650
Median Rent
$497,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - 24-unit multifamily with recent windows, roof, electrical upgrades, and exterior improvements for practical, ongoing operations.
Where is this apartment building located?
The property is located at 1380 W Mississippi Ave Denver, CO.
What is the asking price?
The asking price for this property is $3,490,000.
What are key features of this property?
This property features: 24‑unit multifamily property built in 1982 at 1380 W Mississippi Avenue (Denver’s Ruby Hill submarket).; Unit mix: 17 one‑bedroom and 7 two‑bedroom apartments.; Capital improvements include new windows, a newer roof, upgraded electrical panels, and rebuilt exterior stairs.
