Six-Unit Apartment
For Sale
$775,000
1725 N Race Street, Denver, CO 80206
The fully leased property includes coin-operated laundry, storage lockers, and garage and off-street parking.
Property Size4,104 SF
Lot Size0.15 Acres
Price / SF$188.84
Days on Market37
Property Features for 1725 N Race Street
General Information
Standard status
Active
Size
4,104 SF
Total Parking Spaces
5
Lot size
0.15 Acres
Property subtype
Commercial
Zoning
G-RO-3
Occupancy
100%
Financials
Asking Price
$775,000
Cap Rate
6.76%
Site & Location
Neighborhood
City Park West
Additional Details
Multifamily Units
6
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$6,692
Amenities
Central Air Conditioning
Coin Operated Washer/Dryer
Storage Lockers
Building Details
Year Built
1906
Units
6
Listing Agency:
Denver Real Estate Connection
(303) 455-0244
Listed By:
Kayla Okafor
(720) 296-2949
Source:
Denverrealestateconnection
Added: Sep 18
Changed: Oct 23
Last Checked: Oct 23 at 5:17PM
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 Denver Real Estate Connection
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Investment Insights
Based on property information with market context.
Built in 1906, this six-unit apartment property contains 4,104 square feet on a 0.15-acre lot and is zoned G-RO-3. The building is fully leased and professionally managed. Central air conditioning and forced-air furnace heating serve the property; recent updates include the roof, water heater, electrical system, and furnace. On-site amenities include coin-operated laundry and storage lockers.
Three garages and two off-street parking spaces provide additional parking. The property is two blocks from City Park and St. Luke’s Presbyterian Hospital, and approximately 2 miles from downtown Denver.
One three-bedroom, two-bathroom unit may offer the option to reconfigure into a two-bedroom, one-bathroom unit and a one-bedroom, one-bathroom unit. The reported cap rate is 6.76%.
Three garages and two off-street parking spaces provide additional parking. The property is two blocks from City Park and St. Luke’s Presbyterian Hospital, and approximately 2 miles from downtown Denver.
One three-bedroom, two-bathroom unit may offer the option to reconfigure into a two-bedroom, one-bathroom unit and a one-bedroom, one-bathroom unit. The reported cap rate is 6.76%.
Key Highlights
- Six apartment units in 4,104 square feet; built in 1906
- Fully leased and professionally managed
- Three garages and two off‑street parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,314
Cap Rate
8.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,246,280
$1.2M
Cap Rate 7%
$890,200
$890.2K
Cap Rate 9%
$692,378
$692.4K
Market Conditions
NOI Build-Up for 4,104 SF
Gross rent
$120.7K $29.40/SF
− Vacancy
−$7.4K −$1.79/SF
EGI
$113.3K $27.61/SF
− OpEx
−$51.0K −$12.42/SF
NOI
$62.3K $15.18/SF
Area
Denver, CO
Vacancy
6.10%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,246,280
Cap Rate 7%
$890,200
Cap Rate 9%
$692,378
Alternative Uses
Best Use
Apartment 5plus
$890.2K
$778.9K – $1.04M
NOI $62,314 @ 7.0% cap · market cap 8.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.31M
$1.14M – $1.52M
NOI $91,452 @ 7.0% cap · market cap 11.80%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
6,018
Businesses Nearby
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Business Placement
Demographics for 80206, CO
26,108
Population
15,580
Households
1.7
Avg Household Size
38
Median Age
78%
College-Educated
97%
High-School Grad
2.5 sq mi
ZIP Area
10,443
Density / Sq Mi
$102,248
Median Household Income
$69,908
Median Earnings
$1,694
Median Rent
$892,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The fully leased property includes coin-operated laundry, storage lockers, and garage and off-street parking.
Where is this apartment building located?
The property is located at 1725 N Race Street Denver, CO.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Six apartment units in 4,104 square feet; built in 1906; Fully leased and professionally managed; Three garages and two off‑street parking spaces
