Updated Quadplex
For Sale
$1,100,000
1685 Chester Street, Aurora, CO 80010
Fully rented quadplex with four updated units, including two 1-bedroom and two 2-bedroom layouts.
Property Size3,588 SF
Price / SF$306.58
Days on Market109
Property Features for 1685 Chester Street
General Information
Standard status
Active
Size
3,588 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$4,607
Building Details
Year Built
1951
Listing Agency:
Coldwell Banker Realty 18
(303) 320-5733
Listed By:
Adilene Madera · License #100106874
(720) 842-2013
Source:
Exitrealty
Added: May 21
Changed: Sep 1
Last Checked: Sep 5 at 7:43AM
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.
This updated quadplex is fully rented and features four well-maintained units. The mix includes two 1-bedroom, 1-bath units and two 2-bedroom, 1-bath units, each with comfortable, practical layouts. The property also provides resident parking access and ample outdoor space for everyday enjoyment.
Located at 1685 Chester St in Aurora, CO, the property offers convenient access to major transportation routes, including Interstate 70 and Interstate 225, with quick connectivity to Downtown Denver, Anschutz Medical Campus, and Denver International Airport. Local shopping and dining are nearby, with noted examples including Denver Biscuit Company and Nana’s Dim Sum & Dumplings.
As a turnkey, income-producing multifamily asset, this four-unit property has been recently redesigned in a modern contemporary style.
Located at 1685 Chester St in Aurora, CO, the property offers convenient access to major transportation routes, including Interstate 70 and Interstate 225, with quick connectivity to Downtown Denver, Anschutz Medical Campus, and Denver International Airport. Local shopping and dining are nearby, with noted examples including Denver Biscuit Company and Nana’s Dim Sum & Dumplings.
As a turnkey, income-producing multifamily asset, this four-unit property has been recently redesigned in a modern contemporary style.
Key Highlights
- Fully rented quadplex built in 1951 with four units total
- Unit mix includes two 1‑bedroom, 1‑bath and two 2‑bedroom, 1‑bath residences
- Recently updated with a modern contemporary redesign
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
$51,576
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
4.69%
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%
$1,031,520
$1.0M
Cap Rate 7%
$736,800
$736.8K
Cap Rate 9%
$573,067
$573.1K
Market Conditions
NOI Build-Up for 3,588 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
$79.7K $22.20/SF
− Vacancy
−$6.0K −$1.67/SF
EGI
$73.7K $20.54/SF
− OpEx
−$22.1K −$6.16/SF
NOI
$51.6K $14.37/SF
Area
Aurora, CO
Vacancy
7.50%
Lease Rate
$22.20 /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%
$1,031,520
Cap Rate 7%
$736,800
Cap Rate 9%
$573,067
Alternative Uses
Best Use
Multifamily LT 5
$736.8K
$644.7K – $859.6K
NOI $51,576 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$684.2K
$598.7K – $798.2K
NOI $47,893 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$1.00M
$877.3K – $1.17M
NOI $70,181 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,251
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?
Quadplex - Fully rented quadplex with four updated units, including two 1-bedroom and two 2-bedroom layouts.
Where is this quadplex located?
The property is located at 1685 Chester Street Aurora, CO.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Fully rented quadplex built in 1951 with four units total; Unit mix includes two 1‑bedroom, 1‑bath and two 2‑bedroom, 1‑bath residences; Recently updated with a modern contemporary redesign
