Brick Multifamily Property with
For Sale
$775,000
1725 Race Street, Denver, CO 80206
Six-unit brick property with central air, supplemental garage income, and on-site laundry and storage amenities.
Property Size4,104 SF
Lot Size0.15 Acres
Price / SF$188.84
Days on Market10
Property Features for 1725 Race Street
General Information
Standard status
Active
Size
4,104 SF
Total Parking Spaces
5
Lot size
0.15 Acres
Property subtype
Multi Family
Occupancy
100%
Financials
Asking Price
$775,000
Cap Rate
6.76%
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$6,692
Amenities
central air conditioning
on-site coin operated washer/dryer
storage lockers
Building Details
Building Size
4,104 SF
Year Built
1906
Construction
brick
Listing Agency:
Engel & Volkers Denver
Listed By:
Crystal Martinez · License #100075607
(719) 922-7383
Source:
Corken
Added: Sep 18
Changed: Sep 22
Last Checked: Sep 26 at 3:12PM
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 Engel & Volkers Denver
Investment Insights
Based on property information with market context.
This 6-unit multifamily property occupies a 4,104 SF brick building constructed in 1906. The property is fully leased and professionally managed, with central air conditioning, a pitched roof, forced-air furnace, coin-operated laundry, and storage lockers. Recent improvements include the roof, water heater, electrical system, and furnace. The unit mix includes a larger 3Bd/2Ba residence that may be reconfigured into a 2Bd/1Ba unit and a 1Bd/1Ba unit, subject to applicable requirements.
Parking and ancillary improvements include 3 garages and 2 off-street spaces, providing additional income potential. The property is located at 1725 Race St in Denver’s City Park West area, approximately 2 miles from downtown, two blocks from City Park and St. Luke's Presbyterian Hospital. The 0.15-acre site is supported by established neighborhood demographics, including an average household income of $104k within a 1-mile radius. The current CAP rate is 6.76%.
Parking and ancillary improvements include 3 garages and 2 off-street spaces, providing additional income potential. The property is located at 1725 Race St in Denver’s City Park West area, approximately 2 miles from downtown, two blocks from City Park and St. Luke's Presbyterian Hospital. The 0.15-acre site is supported by established neighborhood demographics, including an average household income of $104k within a 1-mile radius. The current CAP rate is 6.76%.
Key Highlights
- 6‑unit multifamily property with 4,104 SF of building area
- 100% leased and professionally managed
- 3 garages plus 2 off‑street parking spaces
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
$62,314
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
8.04%
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%
$1,246,280
$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
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
$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 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%
$1,246,280
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.
Property Analytics
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Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
6,018
Businesses Nearby
Explore this area
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
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Frequently Asked Questions
What type of property is this?
Multifamily property - Six-unit brick property with central air, supplemental garage income, and on-site laundry and storage amenities.
Where is this multifamily property located?
The property is located at 1725 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: 6‑unit multifamily property with 4,104 SF of building area; 100% leased and professionally managed; 3 garages plus 2 off‑street parking spaces
