Congress Park Multifamily Investment
For Sale
$997,000
1406 Clayton Street, Denver, CO 80206
Five-unit property in premium location with stable income and upside.
Property Size2,890 SF
Price / SF$344.98
Days on Market287
Property Features for 1406 Clayton Street
General Information
Standard status
Active
Size
2,890 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$5,305
Building Details
Year Built
1897
Listing Agency:
West Peak Properties
(720) 495-2412
Listed By:
Jeff Hahl · License #100106929
(303) 718-4969
Source:
Exitrealty
Added: Dec 2, 2025
Changed: Sep 5
Last Checked: Sep 15 at 4:12AM
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 West Peak Properties
Investment Insights
Based on property information with market context.
This fully leased, five-unit property, updated in 1897, is located in Congress Park. The building retains its original hardwood floors, moldings, fireplaces, stained glass, and woodwork, complemented by updated kitchens and bathrooms with newer finishes. The unit mix includes spacious 1-bed and 2-bed layouts, a studio, and a top-floor attic apartment, each featuring character, tall ceilings, and natural light. Historically a social destination, the property now serves as a reliable investment. Heat is provided by a central boiler, utilities are master-metered, and on-site laundry is currently free, with the potential to convert it to an income source. A two-car garage offers additional revenue potential. Situated between City Park, Cheesman Park, the Botanic Gardens, and minutes from Downtown Denver, this property benefits from strong demand, low vacancy risk, and opportunities to increase rents and value through updates. The location has a bike score of 94, making it a biker's paradise, a walk score of 88, indicating it is very walkable, and a transit score of 51, showing good transit options.
Key Highlights
- Premium Congress Park location near City Park, Cheesman Park, Botanic Gardens, and Downtown Denver.
- Fully leased five‑unit property providing stable income with potential for increased rents.
- Updated kitchens and bathrooms with clean, newer finishes.
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
$43,881
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
4.40%
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%
$877,620
$877.6K
Cap Rate 7%
$626,871
$626.9K
Cap Rate 9%
$487,567
$487.6K
Market Conditions
NOI Build-Up for 2,890 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
$85.0K $29.40/SF
− Vacancy
−$5.2K −$1.79/SF
EGI
$79.8K $27.61/SF
− OpEx
−$35.9K −$12.42/SF
NOI
$43.9K $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%
$877,620
Cap Rate 7%
$626,871
Cap Rate 9%
$487,567
Alternative Uses
Best Use
Apartment 5plus
$626.9K
$548.5K – $731.4K
NOI $43,881 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$920.0K
$805.0K – $1.07M
NOI $64,399 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,645
Businesses Nearby
Explore this area
Business Placement
Demographics for 80206, CO
26,108
Population
15,580
Households
1.7
Avg Household Size
38
Median Age
78%
College-Educated
97%
High-School Grad
2.5 sq mi
ZIP Area
10,443
Density / Sq Mi
$102,248
Median Household Income
$69,908
Median Earnings
$1,694
Median Rent
$892,200
Median Home Value
Check the figures for this property
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 - Five-unit property in premium location with stable income and upside.
Where is this apartment building located?
The property is located at 1406 Clayton Street Denver, CO.
What is the asking price?
The asking price for this property is $997,000.
What are key features of this property?
This property features: Premium Congress Park location near City Park, Cheesman Park, Botanic Gardens, and Downtown Denver.; Fully leased five‑unit property providing stable income with potential for increased rents.; Updated kitchens and bathrooms with clean, newer finishes.
