Denver Apartment Building with
For Sale
$2,700,000
1445 Detroit Street, Denver, CO 80206
17-unit apartment building in Denver's Congress Park neighborhood.
Property Size10,044 SF
Price / SF$268.82
Days on Market426
Property Features for 1445 Detroit Street
General Information
Standard status
Active
Size
10,044 SF
Taxes and HOA fees
Annual Taxes
$22,514
Building Details
Year Built
1968
Listing Agency:
NORTHPEAK COMMERCIAL ADVISORS, LLC
Listed By:
CONNER PIRETTI
Source:
Corcoran
Added: Jun 2, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 NORTHPEAK COMMERCIAL ADVISORS, LLC
Investment Insights
Based on property information with market context.
The property at 1445 Detroit is a 17-unit apartment building located in Denver’s Congress Park neighborhood. This four-story property includes 16 covered parking spaces, a valuable amenity for the area. The building has been under the same ownership for over twenty years and presents a value-add opportunity through interior renovations. Similar renovated apartments in the neighborhood are achieving $1,650 per month. The building's systems are in good working order, featuring 70-amp electrical service with new GE breaker panels, an upgraded elevator, and a new roof installed last summer. The HVAC system has been upgraded with separate boilers for building heat and domestic hot water. The property size is 10,044 square feet.
Key Highlights
- Coveted Congress Park location in Denver.
- Value‑add opportunity through unit interior renovations to achieve $1,650/month rental income.
- Rare and valuable amenity: 16 covered parking spaces.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $295.3k | $29.40 |
| − Vacancy | −$18.0k | −$1.79 |
| EGI | $277.3k | $27.61 |
| − OpEx | −$124.8k | −$12.42 |
| NOI | $152.5k | $15.18 |
10,044 SF · lease $29.40/SF/yr · vacancy 6.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.18M
$1.91M – $2.54M
NOI $152,504 @ 7.0% cap · market cap 5.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.20M
$2.80M – $3.73M
NOI $223,816 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 17-unit apartment building in Denver's Congress Park neighborhood.
Where is this apartment building located?
The property is located at 1445 Detroit Street Denver, CO.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Coveted Congress Park location in Denver.; Value‑add opportunity through unit interior renovations to achieve $1,650/month rental income.; Rare and valuable amenity: **16 covered parking spaces.**
