Four-Unit Apartment
New
For Sale
$999,000
2131 S Grant Street, Denver, CO 80210
Four matching one-bedroom residences share laundry facilities and individual basement storage.
Property Size2,995 SF
Days on Market2
Property Features for 2131 S Grant Street
General Information
Standard status
Active
Size
2,995 SF
Property subtype
Quadruplex
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,518
Amenities
shared onsite laundry
included landscaping
individual storage unit
Building Details
Building Size
2,995 SF
Year Built
1945
Listing Agency:
Your Castle Real Estate Inc
Listed By:
Joe Solomon
(303) 962-4272
Source:
Eliselosassore
Added: Sep 26
Last Checked: Sep 26 at 2:14PM
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 Your Castle Real Estate Inc
Investment Insights
Based on property information with market context.
This four-unit apartment property contains four identical one-bedroom, one-bathroom residences. Shared laundry is located onsite, and each residence has its own basement storage unit. Landscaping is included, with parking available on the street and in a private area at the rear of the property. The building dates to 1945.
Harvard Gulch Park is nearby. South Broadway, the Denver Art Museum, and Cherry Creek are also identified as area destinations.
Harvard Gulch Park is nearby. South Broadway, the Denver Art Museum, and Cherry Creek are also identified as area destinations.
Key Highlights
- Four identical units, each with 1 bedroom and 1 bathroom
- Onsite community laundry
- A separate basement storage unit for each residence
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
$49,773
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
4.98%
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%
$995,460
$995.5K
Cap Rate 7%
$711,043
$711.0K
Cap Rate 9%
$553,033
$553.0K
Market Conditions
NOI Build-Up for 2,995 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
$75.5K $25.20/SF
− Vacancy
−$4.4K −$1.46/SF
EGI
$71.1K $23.74/SF
− OpEx
−$21.3K −$7.12/SF
NOI
$49.8K $16.62/SF
Area
Denver, CO
Vacancy
5.79%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$995,460
Cap Rate 7%
$711,043
Cap Rate 9%
$553,033
Alternative Uses
Best Use
Multifamily LT 5
$711.0K
$622.2K – $829.6K
NOI $49,773 @ 7.0% cap · market cap 4.98%
Second Best
Apartment 5plus
$649.6K
$568.4K – $757.9K
NOI $45,475 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$953.4K
$834.2K – $1.11M
NOI $66,739 @ 7.0% cap · market cap 6.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,111
Businesses Nearby
Explore this area
Business Placement
Demographics for 80210, CO
39,394
Population
18,496
Households
2.1
Avg Household Size
33
Median Age
76%
College-Educated
99%
High-School Grad
6.1 sq mi
ZIP Area
6,458
Density / Sq Mi
$120,156
Median Household Income
$61,607
Median Earnings
$1,963
Median Rent
$870,500
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Four matching one-bedroom residences share laundry facilities and individual basement storage.
Where is this quadplex located?
The property is located at 2131 S Grant Street Denver, CO.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Four identical units, each with 1 bedroom and 1 bathroom; Onsite community laundry; A separate basement storage unit for each residence
