Renovated 33-Unit Apartment with
1560 Sherman St Denver, CO 80203
For Sale
Contact for pricing
A 33-unit, elevator-served apartment community with renovated units and common areas, plus largely untapped basement space.
Property Size31,670 SF
Price / SF$183.14
Days on Market106
Property Features for 1560 Sherman St
General Information
- Standard status
- Active
- Size
- 31,670 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1952
Listing Agency:
NORTHPEAK Commercial Advisors
(303) 263-6260
Listed By:
Matt Lewallen · License #CO FA.100022835
Source:
Crexi
Added: Apr 10
Changed: Jul 23
Last Checked: Jul 23 at 2:42AM
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
Investment Insights
Based on property information with market context.
This elevator-served 33-unit apartment community was recently renovated, with updates noted across many units and common areas. The resident amenities listed include a gym, laundry room, private storage, dog wash, and a spacious lounge with a full kitchen, supporting a turn-key presentation.
The property is positioned just steps from the Colorado State Capitol. In addition to the apartments, it includes approximately 7,400± SF of basement space that remains largely untapped.
Public remarks note that the basement was previously home to Le Profile, a long-running Denver restaurant, and may present value-add possibilities depending on a buyer’s intended use for that lower level.
The property is positioned just steps from the Colorado State Capitol. In addition to the apartments, it includes approximately 7,400± SF of basement space that remains largely untapped.
Public remarks note that the basement was previously home to Le Profile, a long-running Denver restaurant, and may present value-add possibilities depending on a buyer’s intended use for that lower level.
Key Highlights
- 33‑unit, elevator‑served apartment community in Central Denver
- Recently renovated units and common areas with Year Built 1952
- Includes 7,400+ SF of basement space that remains largely untapped
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 | $931.1k | $29.40 |
| − Vacancy | −$56.8k | −$1.79 |
| EGI | $874.3k | $27.61 |
| − OpEx | −$393.4k | −$12.42 |
| NOI | $480.9k | $15.18 |
31,670 SF · lease $29.40/SF/yr · vacancy 6.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$6.87M
$6.01M – $8.01M
NOI $480,866 @ 7.0% cap · market cap 8.29%
Second Best
Office B
$6.63M
$5.80M – $7.73M
NOI $464,029 @ 7.0% cap · market cap 8.00%
Theoretical Best
Office A
$10.08M
$8.82M – $11.76M
NOI $705,719 @ 7.0% cap · market cap 12.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
The Profile
Apartment Complex
FAQs
What type of property is this?
Apartment building - A 33-unit, elevator-served apartment community with renovated units and common areas, plus largely untapped basement space.
Where is this apartment building located?
The property is located at 1560 Sherman St Denver, CO.
What is the asking price?
The asking price for this property is $5,800,000.
What are key features of this property?
This property features: 33‑unit, elevator‑served apartment community in Central Denver; Recently renovated units and common areas with Year Built 1952; Includes 7,400+ SF of basement space that remains largely untapped
