17-Unit Apartment
1475 Cherry Street Denver, CO 80220
For Sale
$3,400,000
Seventeen-unit property with a mix of 1- and 2-bedroom apartments, on-site laundry, and dedicated parking.
Property Size12,339 SF
Price / SF$275.55
Days on Market23
Property Features for 1475 Cherry Street
General Information
- Standard status
- Active
- Size
- 12,339 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1946
Listing Agency:
THE OLD COUNTRY REAL ESTATE GROUP LLC
(720) 939-3600
Listed By:
JOSEPH PRINZI · License #100043211
Source:
Corcoran
Added: Jul 2
Changed: Jul 21
Last Checked: Jul 23 at 6:50AM
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 THE OLD COUNTRY REAL ESTATE GROUP LLC
Investment Insights
Based on property information with market context.
This 17-unit apartment complex offers a versatile mix of one- and two-bedroom apartments. The property includes dedicated parking, a shared courtyard space, and on-site laundry facilities. The seller states the building is currently stabilized with consistent occupancy.
Located within walking distance of Colfax Avenue, the property is positioned for convenient access to restaurants, breweries, coffee shops, and boutique retail. The remarks also note proximity to public transportation and major thoroughfares.
The offering is presented as a value-add opportunity, with potential upside through cosmetic updates to kitchens, bathrooms, and flooring. The seller also highlights potential energy efficiency improvements such as LED lighting, low-flow fixtures, and solar panels. In addition, certain units are described as having reconfiguration potential to better maximize rental income. Seller financing is available, per the public remarks.
Located within walking distance of Colfax Avenue, the property is positioned for convenient access to restaurants, breweries, coffee shops, and boutique retail. The remarks also note proximity to public transportation and major thoroughfares.
The offering is presented as a value-add opportunity, with potential upside through cosmetic updates to kitchens, bathrooms, and flooring. The seller also highlights potential energy efficiency improvements such as LED lighting, low-flow fixtures, and solar panels. In addition, certain units are described as having reconfiguration potential to better maximize rental income. Seller financing is available, per the public remarks.
Key Highlights
- 17‑unit apartment complex built in 1946 with a mix of 1‑bedroom and 2‑bedroom units
- On‑site amenities include dedicated parking, a shared courtyard, and on‑site laundry facilities
- Currently stabilized with consistent occupancy, with room for upside through strategic upgrades
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 | $362.8k | $29.40 |
| − Vacancy | −$22.1k | −$1.79 |
| EGI | $340.6k | $27.61 |
| − OpEx | −$153.3k | −$12.42 |
| NOI | $187.4k | $15.18 |
12,339 SF · lease $29.40/SF/yr · vacancy 6.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.68M
$2.34M – $3.12M
NOI $187,351 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.93M
$3.44M – $4.58M
NOI $274,956 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Agatha Jane Interior ...
Interior Design
FAQs
What type of property is this?
Apartment building - Seventeen-unit property with a mix of 1- and 2-bedroom apartments, on-site laundry, and dedicated parking.
Where is this apartment building located?
The property is located at 1475 Cherry Street Denver, CO.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: 17‑unit apartment complex built in 1946 with a mix of 1‑bedroom and 2‑bedroom units; On‑site amenities include dedicated parking, a shared courtyard, and on‑site laundry facilities; Currently stabilized with consistent occupancy, with room for upside through strategic upgrades
