Spacious Triplex with Income
For Sale
$1,025,000
Pending
14200 E 22nd Pl, Aurora, CO 80011
Large triplex with finished basements, garages, and yard space.
Property Size3,454 SF
Days on Market111
Property Features for 14200 E 22nd Pl
General Information
Standard status
Pending
Size
3,454 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,059
Building Details
Building Size
3,454 SF
Year Built
1978
Listing Agency:
(303) 713-9000
Listed By:
Sherry Schoenberger
(303) 713-9000
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Jul 23 at 11:32AM
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 Sherry Schoenberger
Investment Insights
Based on property information with market context.
This triplex presents a unique opportunity with significant income potential. It features three units: a 5-bedroom, 2-bathroom unit, a 4-bedroom, 2-bathroom unit, and another 5-bedroom, 2-bathroom unit, each with full finished basements, private garages, and spacious enclosed yards. The basement living quarters, combined with the upstairs, are suitable for large or blended families, or for mother-in-law suites. Each of the three units includes 2 bedrooms and one bath upstairs, and a full basement with 2-3 bedrooms, one bathroom, a full kitchen, and individual laundry. Two of the basements have private entrances. The property contains a total of 5 kitchens, 14 bedrooms, and 6 full bathrooms. Recent updates include newer paint and flooring, and one unit has a new furnace/boiler. There is potential for added rental income from the three detached garages, as well as the opportunity to implement RUBS for water/trash. The property is located near Anschutz Medical Campus and other amenities. The location has a bike score of 56, indicating it is bikeable, a walk score of 37, indicating car-dependency, and a transit score of 54, indicating good transit options.
Key Highlights
- Triplex with significant rental upside potential.
- Each unit has a full finished basement, private garage, and enclosed yard.
- Ideal for large/blended families or mother‑in‑law suites due to basement living quarters.
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
$46,117
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
4.50%
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%
$922,340
$922.3K
Cap Rate 7%
$658,814
$658.8K
Cap Rate 9%
$512,411
$512.4K
Market Conditions
NOI Build-Up for 3,454 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
$70.5K $20.40/SF
− Vacancy
−$4.6K −$1.33/SF
EGI
$65.9K $19.07/SF
− OpEx
−$19.8K −$5.72/SF
NOI
$46.1K $13.35/SF
Area
ZIP 80011
Vacancy
6.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
30.00%
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%
$922,340
Cap Rate 7%
$658,814
Cap Rate 9%
$512,411
Alternative Uses
Best Use
Multifamily LT 5
$658.8K
$576.5K – $768.6K
NOI $46,117 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$592.6K
$518.5K – $691.4K
NOI $41,483 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$796.6K
$697.1K – $929.4K
NOI $55,764 @ 7.0% cap · market cap 5.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,279
Businesses Nearby
Explore this area
Business Placement
Demographics for 80011, CO
54,254
Population
19,108
Households
2.8
Avg Household Size
32
Median Age
19%
College-Educated
76%
High-School Grad
20.4 sq mi
ZIP Area
2,660
Density / Sq Mi
$69,719
Median Household Income
$36,853
Median Earnings
$1,607
Median Rent
$367,200
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?
Triplex - Large triplex with finished basements, garages, and yard space.
Where is this triplex located?
The property is located at 14200 E 22nd Pl Aurora, CO.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: Triplex with significant rental upside potential.; Each unit has a full finished basement, private garage, and enclosed yard.; Ideal for large/blended families or mother‑in‑law suites due to basement living quarters.
