Apartment Building with
For Sale
$5,850,000
1945 Canyon Blvd, Boulder, CO 80302
Residential Income, Boulder, CO
Property Size12,582 SF
Lot Size0.44 Acres
Price / SF$464.95
Days on Market983
Property Features for 1945 Canyon Blvd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi Res
Bedrooms
20
Bathrooms
13
Full bathrooms
13
Rooms
Bedroom 10, Loft, Bathroom 3, Bedroom 17, Bathroom 4, Bathroom 1, Bedroom 15, Bedroom 19, Bedroom 6, Bedroom 9, Bedroom 4, Bedroom 11, Bedroom 13, Bathroom 9, Bedroom 3, Bathroom 13, Bedroom 20, Bathroom 11, Bedroom 1, Bedroom 14, Bedroom 8, Bedroom 18, Bathroom 2, Bathroom 6, Bedroom 5, Bathroom 7, Bedroom 16, Bathroom 8, Bedroom 12, Bedroom 7, Bedroom 2, Bathroom 12, Bathroom 10, Bathroom 5
Patio and Porch features
Deck
Interior features
Open Floorplan
Appliances
No Units Furnished
Subdivision
Chamberlains
Lot features
Wooded, Level, Paved, Curbs, Gutters, Sidewalks, Street Light, Fire Hydrant within 500 Feet
Elementary school
Whittier
Middle school
Casey
High school
Boulder
Elementary school district
Boulder Valley Dist RE2
Middle school district
Boulder Valley Dist RE2
High school district
Boulder Valley Dist RE2
Directions
Take Canyon West from 28. Property will be on the right
Standard status
Active
APN
R0006588
Size
12,582 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Year
2022
Tax Annual Amount
27043
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Wall/Window Unit(s), Window Unit(s)
Amenities
courtyard with picnic tables
in wall a/c units
off street parking
carport
Building Details
Year built
1972
Floors in Building
4
Number of units
12
Building materials
Frame
Roof type
Rubber, Composition
Architectural style
Contemporary
Listing Agency:
RE/MAX Alliance-Boulder · RE/MAX International
(303) 442-3180
Listed By:
Robert Chambers
(720) 201-3031
Added: Jan 17, 2024
Changed: Sep 12
Last Checked: Sep 25 at 11:06PM
MLS# 1001751
Copyright © 2026 IRES MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 12,582-square-foot apartment property occupies 0.44 acres and was built in 1972. The contemporary frame building includes 20 bedrooms and 13 bathrooms, with open floorplans, baseboard heating, wall and window air-conditioning units, and a deck. Exterior improvements include a new roof, new asphalt paving, a courtyard with picnic tables, off-street parking, and a carport. The property is zoned Multi Res and served by public sewer, with natural gas available.
Located at 1945 Canyon Blvd in Boulder, the property sits next to Canyon Park and is a short distance from Pearl Street and 29th Street. CU and Naropa are within walking distance, while RTD access and nearby trails add to the surrounding connectivity. Showings require 48 hours’ notice and are available Monday through Friday from 11 a.m. to 2 p.m.
Located at 1945 Canyon Blvd in Boulder, the property sits next to Canyon Park and is a short distance from Pearl Street and 29th Street. CU and Naropa are within walking distance, while RTD access and nearby trails add to the surrounding connectivity. Showings require 48 hours’ notice and are available Monday through Friday from 11 a.m. to 2 p.m.
Key Highlights
- 12,582 SF apartment property on 0.44 acres
- 20 bedrooms and 13 bathrooms
- New roof and new asphalt paving
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
$198,261
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
3.39%
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%
$3,965,220
$4.0M
Cap Rate 7%
$2,832,300
$2.8M
Cap Rate 9%
$2,202,900
$2.2M
Market Conditions
NOI Build-Up for 12,582 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
$377.5K $30.00/SF
− Vacancy
−$17.0K −$1.35/SF
EGI
$360.5K $28.65/SF
− OpEx
−$162.2K −$12.89/SF
NOI
$198.3K $15.76/SF
Area
Boulder, CO
Vacancy
4.50%
Lease Rate
$30.00 /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%
$3,965,220
Cap Rate 7%
$2,832,300
Cap Rate 9%
$2,202,900
Alternative Uses
Best Use
Apartment 5plus
$2.83M
$2.48M – $3.30M
NOI $198,261 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.25M
$3.72M – $4.96M
NOI $297,620 @ 7.0% cap · market cap 5.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,907
Businesses Nearby
Explore this area
Business Placement
Demographics for 80302, CO
27,322
Population
13,556
Households
2
Avg Household Size
29
Median Age
75%
College-Educated
98%
High-School Grad
93.9 sq mi
ZIP Area
291
Density / Sq Mi
$60,649
Median Household Income
$19,586
Median Earnings
$1,850
Median Rent
$1,123,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Multi-residential property with a courtyard, off-street parking, carport, and convenient access to nearby trails and transit.
Where is this apartment building located?
The property is located at 1945 Canyon Blvd Boulder, CO.
What is the asking price?
The asking price for this property is $5,850,000.
What are key features of this property?
This property features: 12,582 SF apartment property on 0.44 acres; 20 bedrooms and 13 bathrooms; New roof and new asphalt paving
