Lakewood Multifamily Investment
For Sale
$1,650,000
206 S Pierce Street, Denver, CO 80226
Charming 7-unit apartment community in Lakewood, Colorado.
Property Size6,600 SF
Price / SF$250
Days on Market511
Property Features for 206 S Pierce Street
General Information
Standard status
Active
Size
6,600 SF
Taxes and HOA fees
Annual Taxes
$8,362
Building Details
Year Built
1962
Listing Agency:
LREI
Listed By:
JOHN LARATTA
(303) 523-1031
Source:
Corcoran
Added: May 29, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:08AM
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 LREI
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Investment Insights
Based on property information with market context.
CEDAR ARMS is a 7-unit apartment community located at 206 S Pierce Street in Lakewood, CO. The property features 2-bedroom, 1-bath units of approximately 900 sqft each. The exterior has low-maintenance brick construction and a new roof. The interiors include updated kitchens with newer appliances and LVP flooring. Each unit offers ample closet space. On-site amenities include a well-maintained laundry facility and abundant parking. The property is located five miles west of downtown Denver and one mile east of Belmar Redevelopment. The property is suited for hands-on owners seeking returns. The property size is 6600 square feet.
Key Highlights
- Prime location: Just 5 miles west of downtown Denver and 1 mile east of Belmar Redevelopment.
- Lucrative investment opportunity with a solid rent schedule.
- Recently renovated units featuring updated kitchens, newer appliances, and LVP flooring.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$100,212
Cap Rate
6.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,004,240
$2.0M
Cap Rate 7%
$1,431,600
$1.4M
Cap Rate 9%
$1,113,467
$1.1M
Market Conditions
NOI Build-Up for 6,600 SF
Gross rent
$194.0K $29.40/SF
− Vacancy
−$11.8K −$1.79/SF
EGI
$182.2K $27.61/SF
− OpEx
−$82.0K −$12.42/SF
NOI
$100.2K $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%
$2,004,240
Cap Rate 7%
$1,431,600
Cap Rate 9%
$1,113,467
Alternative Uses
Best Use
Apartment 5plus
$1.43M
$1.25M – $1.67M
NOI $100,212 @ 7.0% cap · market cap 6.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.10M
$1.84M – $2.45M
NOI $147,071 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Location Intelligence
Trade Area within ½ mile
1,702
Businesses Nearby
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Business Placement
Demographics for 80226, CO
33,142
Population
14,742
Households
2.2
Avg Household Size
37
Median Age
38%
College-Educated
90%
High-School Grad
8.1 sq mi
ZIP Area
4,092
Density / Sq Mi
$78,466
Median Household Income
$44,640
Median Earnings
$1,738
Median Rent
$547,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Charming 7-unit apartment community in Lakewood, Colorado.
Where is this apartment building located?
The property is located at 206 S Pierce Street Denver, CO.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Prime location: Just 5 miles west of downtown Denver and 1 mile east of Belmar Redevelopment.; Lucrative investment opportunity with a solid rent schedule.; Recently renovated units featuring updated kitchens, newer appliances, and LVP flooring.
