Two-Building Student Housing
For Sale
$4,500,000
1395 19th St, Boulder, CO 80302
Two-building multifamily property with townhouse-style units and a detached cottage, fully occupied near CU Boulder.
Property Size8,584 SF
Lot Size0.32 Acres
Price / SF$524.23
Days on Market52
Property Features for 1395 19th St
General Information
Standard status
Active
Size
8,584 SF
Total Parking Spaces
15
Lot size
0.32 Acres
Property subtype
Investment
Zoning
RH-1
Occupancy
100%
Additional Details
Multifamily Units
9
Taxes and HOA fees
Annual Taxes
$24,060
Building Details
Year Built
1942
Units
9
Listed By:
Nora Fan
(303) 442-5001
Source:
Elliman
Added: Jul 21
Changed: Aug 14
Last Checked: Sep 9 at 11:16AM
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 Nora Fan
Investment Insights
Based on property information with market context.
Two-building multifamily student housing offering totaling nine units on a high-density corner lot zoned RH-1. The primary building is an 8-unit, two-story town-home style apartment building with four 3BD/1.5BA units and four 2BD/1.5BA units. A detached 4BD/1.5BA cottage rounds out the mix. Total building area is 8,584 SF, with 15 on-site parking spaces. The property is currently 100% occupied.
The buildings are located one block from CU Boulder and The Hill, with walkable access to the CU quad and nearby shopping and dining. Transit service is described as good, with very walkable and very bikeable scores reported for the area.
In-place income is $26,655 per month ($319,860 per year). Capital items include a 2025 roof replacement for the 1,395 building. A due diligence package is available upon request, including 2025 operating financials, current rent roll, professional inspection report, and sewer scope reports for both buildings. Shown by appointment only; please do not disturb tenants.
The buildings are located one block from CU Boulder and The Hill, with walkable access to the CU quad and nearby shopping and dining. Transit service is described as good, with very walkable and very bikeable scores reported for the area.
In-place income is $26,655 per month ($319,860 per year). Capital items include a 2025 roof replacement for the 1,395 building. A due diligence package is available upon request, including 2025 operating financials, current rent roll, professional inspection report, and sewer scope reports for both buildings. Shown by appointment only; please do not disturb tenants.
Key Highlights
- Two‑building multifamily near CU Boulder: 8‑unit town‑home style building plus detached 4BD/1.5BA cottage
- 9 total units: four 3BD/1.5BA and four 2BD/1.5BA apartments, plus the detached 4BD/1.5BA cottage
- Held in same family for decades and currently 100% occupied with a proven University rental history
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
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Open Analytics
Current Use
Lease Details
9
Residential units
100%
Occupancy
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-building multifamily property with townhouse-style units and a detached cottage, fully occupied near CU Boulder.
Where is this apartment building located?
The property is located at 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: Two‑building multifamily near CU Boulder: 8‑unit town‑home style building plus detached 4BD/1.5BA cottage; 9 total units: four 3BD/1.5BA and four 2BD/1.5BA apartments, plus the detached 4BD/1.5BA cottage; Held in same family for decades and currently 100% occupied with a proven University rental history
