Six-Plex Investment
For Sale
$950,000
1592 Lansing St, Aurora, CO 80010
Move-in ready six-plex generating strong cash flow.
Property Size3,830 SF
Days on Market112
Property Features for 1592 Lansing St
General Information
Standard status
Active
Size
3,830 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,783
Building Details
Building Size
3,830 SF
Year Built
1958
Units
6
Listing Agency:
COLDWELL BANKER REALTY 18
(303) 653-2889
Listed By:
Vinh Lam
(303) 653-2889
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 13 at 6:45AM
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 COLDWELL BANKER REALTY 18
Investment Insights
Based on property information with market context.
Located at 1592 Lansing St, this six-plex presents an investment opportunity. The property is almost fully occupied and generates just under $7,000 per month in rental income; once the last unit is occupied, the expected rental income is over $8,000 per month. The property has been renovated and is move-in ready, requiring no deferred maintenance or projects. Key features include a new roof and dedicated parking spaces for each residence. The property is thoughtfully updated and well-maintained, providing stability and long-term upside. The location has a bike score of 53, indicating it is bikeable, a walk score of 86, indicating it is very walkable, and a transit score of 51, indicating good transit.
Key Highlights
- Strong Cash Flow: Currently generates nearly $7,000/month in rental income, with potential to exceed $8,000/month upon full occupancy.
- Move‑In Ready: Nicely renovated with no deferred maintenance or projects required.
- Brand New Roof: A significant recent upgrade.
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
$51,123
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
5.38%
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%
$1,022,460
$1.0M
Cap Rate 7%
$730,329
$730.3K
Cap Rate 9%
$568,033
$568.0K
Market Conditions
NOI Build-Up for 3,830 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
$99.7K $26.04/SF
− Vacancy
−$6.8K −$1.77/SF
EGI
$93.0K $24.27/SF
− OpEx
−$41.8K −$10.92/SF
NOI
$51.1K $13.35/SF
Area
Aurora, CO
Vacancy
6.80%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$1,022,460
Cap Rate 7%
$730,329
Cap Rate 9%
$568,033
Alternative Uses
Best Use
Apartment 5plus
$730.3K
$639.0K – $852.1K
NOI $51,123 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.07M
$936.4K – $1.25M
NOI $74,915 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
995
Businesses Nearby
Explore this area
Business Placement
Demographics for 80010, CO
42,303
Population
15,394
Households
2.7
Avg Household Size
32
Median Age
19%
College-Educated
73%
High-School Grad
5.1 sq mi
ZIP Area
8,295
Density / Sq Mi
$60,755
Median Household Income
$36,349
Median Earnings
$1,400
Median Rent
$385,700
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 - Move-in ready six-plex generating strong cash flow.
Where is this apartment building located?
The property is located at 1592 Lansing St Aurora, CO.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Strong Cash Flow: Currently generates nearly $7,000/month in rental income, with potential to exceed $8,000/month upon full occupancy.; Move‑In Ready: Nicely renovated with no deferred maintenance or projects required.; Brand New Roof: A significant recent upgrade.
