Two-Unit Duplex with Private
1700 Iris St, Lakewood, CO 80215
For Sale
$550,000
Each residence includes two bedrooms, a full bath, a laundry room, and a separate storage shed.
Property Size1,717 SF
Days on Market26
Property Features for 1700 Iris St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
dedicated laundry room
eat-in dining space
fenced backyard
storage shed
Building Details
Building Size
Year Built
Listing Agency:
Distinct Real Estate LLC
Listed By:
Theda McDonald
(720) 231-5535
Source:
Corken
Added: Oct 20
Changed: Nov 9
Last Checked: Nov 12 at 6:05PM
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 Distinct Real Estate LLC
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Investment Insights
Based on property information with market context.
Built in 1953, this duplex contains two residences, each with two bedrooms, one full bathroom, and a dedicated laundry room. Both kitchens have space for dining. The property also provides an extended driveway, fenced outdoor areas for each unit, and a storage shed per residence.
Key Highlights
- Two units, each with 2 bedrooms and 1 full bathroom
- Dedicated laundry room in each residence
- Eat‑in dining area in both kitchens
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,948
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$498,960
$499.0K
Cap Rate 7%
$356,400
$356.4K
Cap Rate 9%
$277,200
$277.2K
Market Conditions
NOI Build-Up for 1,717 SF
Gross rent
$38.1K $22.20/SF
− Vacancy
−$2.5K −$1.44/SF
EGI
$35.6K $20.76/SF
− OpEx
−$10.7K −$6.23/SF
NOI
$24.9K $14.53/SF
Area
Lakewood, CO
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$498,960
Cap Rate 7%
$356,400
Cap Rate 9%
$277,200
Alternative Uses
Best Use
Multifamily LT 5
$356.4K
$311.9K – $415.8K
NOI $24,948 @ 7.0% cap · market cap 4.54%
Second Best
Apartment 5plus
$312.0K
$273.0K – $364.0K
NOI $21,837 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$514.3K
$450.0K – $600.0K
NOI $35,999 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,176
Businesses Nearby
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Business Placement
Demographics for 80215, CO
19,908
Population
9,156
Households
2.2
Avg Household Size
42
Median Age
49%
College-Educated
97%
High-School Grad
5.5 sq mi
ZIP Area
3,620
Density / Sq Mi
$85,017
Median Household Income
$49,100
Median Earnings
$1,728
Median Rent
$615,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Jefferson County, CO
Properties on Market for Duplexes in Jefferson County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes two bedrooms, a full bath, a laundry room, and a separate storage shed.
Where is this duplex located?
The property is located at 1700 Iris St Lakewood, CO.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 full bathroom; Dedicated laundry room in each residence; Eat‑in dining area in both kitchens
