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 Market428
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
(303) 523-1031
Listed By:
JOHN LARATTA
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
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 For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $194.0k | $29.40 |
| − Vacancy | −$11.8k | −$1.79 |
| EGI | $182.2k | $27.61 |
| − OpEx | −$82.0k | −$12.42 |
| NOI | $100.2k | $15.18 |
6,600 SF · lease $29.40/SF/yr · vacancy 6.10% · expense 45.00%
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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
839
Businesses Nearby
Explore this area
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
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 - 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.
