Brick Quadplex with Alley
For Sale
$575,000
1420 Boston Street, Aurora, CO 80010
Four maintained apartments provide two bedrooms and one bathroom per unit, with off-alley parking.
Property Size3,752 SF
Price / SF$153.25
Days on Market9
Property Features for 1420 Boston Street
General Information
Standard status
Active
Size
3,752 SF
Property subtype
Multi Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,766
Building Details
Year Built
1952
Construction
brick
Listing Agency:
Keller Williams DTC
(303) 913-8551
Listed By:
Mark Jessop · License #000288311
(303) 913-8551
Source:
Exitrealty
Added: Aug 22
Changed: Aug 28
Last Checked: Aug 30 at 12:52PM
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 Keller Williams DTC
Investment Insights
Based on property information with market context.
Built in 1952, this brick quadplex contains four apartments, each configured with two bedrooms and one bathroom. The property totals 3,752 square feet and includes parking accessed from the alley. A newer roof and three new furnaces are among the recent property improvements.
The units have been maintained during the current ownership, with updates completed in some apartments. Long-term tenants are in place, and the existing rents are described as low. Property access is available after an accepted purchase contract; entry is not permitted beforehand.
The units have been maintained during the current ownership, with updates completed in some apartments. Long-term tenants are in place, and the existing rents are described as low. Property access is available after an accepted purchase contract; entry is not permitted beforehand.
Key Highlights
- Four 2‑bedroom, 1‑bathroom units
- 3,752 SF quadplex built in 1952
- Brick exterior with parking off the alley
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
$50,082
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
8.71%
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%
$1,001,640
$1.0M
Cap Rate 7%
$715,457
$715.5K
Cap Rate 9%
$556,467
$556.5K
Market Conditions
NOI Build-Up for 3,752 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
$97.7K $26.04/SF
− Vacancy
−$6.6K −$1.77/SF
EGI
$91.1K $24.27/SF
− OpEx
−$41.0K −$10.92/SF
NOI
$50.1K $13.35/SF
Area
Aurora, CO
Vacancy
6.80%
Lease Rate
$26.04 /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%
$1,001,640
Cap Rate 7%
$715,457
Cap Rate 9%
$556,467
Alternative Uses
Best Use
Multifamily LT 5
$770.5K
$674.2K – $898.9K
NOI $53,933 @ 7.0% cap · market cap 9.38%
Second Best
Apartment 5plus
$715.5K
$626.0K – $834.7K
NOI $50,082 @ 7.0% cap · market cap 8.71%
Theoretical Best
Office A
$1.05M
$917.4K – $1.22M
NOI $73,389 @ 7.0% cap · market cap 12.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,135
Businesses Nearby
Explore this area
Business Placement
Demographics for 80010, CO
42,303
Population
15,394
Households
2.7
Avg Household Size
32
Median Age
19%
College-Educated
73%
High-School Grad
5.1 sq mi
ZIP Area
8,295
Density / Sq Mi
$60,755
Median Household Income
$36,349
Median Earnings
$1,400
Median Rent
$385,700
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?
Quadplex - Four maintained apartments provide two bedrooms and one bathroom per unit, with off-alley parking.
Where is this quadplex located?
The property is located at 1420 Boston Street Aurora, CO.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bathroom units; 3,752 SF quadplex built in 1952; Brick exterior with parking off the alley
