Renovated 10-Unit Multifamily
For Sale
Contact for pricing
1576 MEADE ST, Denver, CO 80204
Five contiguous duplexes feature updated interiors, private fenced yards, in-unit laundry, and covered garage parking.
Property Size13,973 SF
Lot Size0.72 Acres
Price / SF$322.05
Days on Market118
Property Features for 1576 MEADE ST
General Information
Standard status
Active
Size
13,973 SF
Lot size
0.72 Acres
Property subtype
Multifamily
Occupancy
95%
Additional Details
Multifamily Units
10
Amenities
private fenced yards
in-unit washer/dryer
covered garage parking
Building Details
Year Built
1924
Year Renovated
2024
Buildings
5
Stories
1
Units
2
Listing Agency:
Marcus & Millichap - Denver
(303) 328-2075
Listed By:
Charles Burkhart · License #FA100103787
Source:
Crexi
Added: May 8
Changed: Aug 30
Last Checked: Sep 1 at 10:08AM
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 Marcus & Millichap - Denver
Investment Insights
Based on property information with market context.
This 13,973-square-foot multifamily property comprises five contiguous duplexes, or 10 residential units, situated on approximately 0.72 acres. Originally built in 1924, the residences underwent down-to-the-studs renovations in 2024 and 2025. Property features include exposed original brick, high ceilings, large windows, upgraded kitchens and bathrooms, private fenced yards, in-unit washer/dryers, and covered garage parking.
The property is located one block from Sloan’s Lake in Denver. The offering includes five separate parcels, providing parcel-level flexibility within the assembled asset. Its residential configuration combines renovated interiors with functional unit layouts and outdoor, laundry, and parking features across the property.
The property is located one block from Sloan’s Lake in Denver. The offering includes five separate parcels, providing parcel-level flexibility within the assembled asset. Its residential configuration combines renovated interiors with functional unit layouts and outdoor, laundry, and parking features across the property.
Key Highlights
- 10 units across five contiguous duplexes
- Approximately 0.72 acres with five separate parcels
- 13,973 SF multifamily property built in 1924
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
$232,212
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
5.16%
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%
$4,644,240
$4.6M
Cap Rate 7%
$3,317,314
$3.3M
Cap Rate 9%
$2,580,133
$2.6M
Market Conditions
NOI Build-Up for 13,973 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
$352.1K $25.20/SF
− Vacancy
−$20.4K −$1.46/SF
EGI
$331.7K $23.74/SF
− OpEx
−$99.5K −$7.12/SF
NOI
$232.2K $16.62/SF
Area
Denver, CO
Vacancy
5.79%
Lease Rate
$25.20 /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%
$4,644,240
Cap Rate 7%
$3,317,314
Cap Rate 9%
$2,580,133
Alternative Uses
Best Use
Multifamily LT 5
$3.32M
$2.90M – $3.87M
NOI $232,212 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$3.03M
$2.65M – $3.54M
NOI $212,161 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$4.45M
$3.89M – $5.19M
NOI $311,368 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
419
Businesses Nearby
Explore this area
Business Placement
Demographics for 80204, CO
35,269
Population
18,378
Households
1.9
Avg Household Size
33
Median Age
51%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
6,413
Density / Sq Mi
$79,265
Median Household Income
$58,860
Median Earnings
$1,724
Median Rent
$579,900
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?
Multifamily property - Five contiguous duplexes feature updated interiors, private fenced yards, in-unit laundry, and covered garage parking.
Where is this multifamily property located?
The property is located at 1576 MEADE ST Denver, CO.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 10 units across five contiguous duplexes; Approximately 0.72 acres with five separate parcels; 13,973 SF multifamily property built in 1924
