13-Unit Apartment
For Sale
Contact for pricing
2139-2151 Lafayette St, Denver, CO 80205
Built in 1930, this 13-unit multifamily property is located on Lafayette Street with walkable access to Uptown and Cheesman Park.
Property Size7,100 SF
Price / SF$274.65
Days on Market144
Property Features for 2139-2151 Lafayette St
General Information
Standard status
Active
Size
7,100 SF
Property subtype
Multifamily
Net Operating Income
$68,402
Additional Details
Multifamily Units
13
Building Details
Year Built
1930
Buildings
2
Stories
3
Units
13
Listing Agency:
MMG
Listed By:
Adam Riddle · License #CO 100024441
(303) 257-7627
Source:
Crexi
Added: Apr 17
Changed: Sep 3
Last Checked: Sep 6 at 12:35PM
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 MMG
Investment Insights
Based on property information with market context.
This 13-unit multifamily apartment building at 2139–2151 Lafayette Street was built in 1930 and offers an opportunity for owner-managed operations at a manageable scale. The property is positioned on an established residential street and provides day-to-day convenience to nearby retail and outdoor destinations.
The building’s location places it within immediate walkable access of Uptown’s restaurant row, Cheesman Park, and the 17th Avenue corridor. It is being offered for sale as a 13-unit rental property in Denver’s Whittier neighborhood.
The building’s location places it within immediate walkable access of Uptown’s restaurant row, Cheesman Park, and the 17th Avenue corridor. It is being offered for sale as a 13-unit rental property in Denver’s Whittier neighborhood.
Key Highlights
- Built in 1930, this 13‑unit multifamily property is located at 2139–2151 Lafayette Street.
- 13‑unit size offers economies of scale while remaining manageable for owner‑friendly operations.
- Sits on an established residential street in Denver’s Whittier neighborhood.
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
$107,804
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
5.53%
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%
$2,156,080
$2.2M
Cap Rate 7%
$1,540,057
$1.5M
Cap Rate 9%
$1,197,822
$1.2M
Market Conditions
NOI Build-Up for 7,100 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
$208.7K $29.40/SF
− Vacancy
−$12.7K −$1.79/SF
EGI
$196.0K $27.61/SF
− OpEx
−$88.2K −$12.42/SF
NOI
$107.8K $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%
$2,156,080
Cap Rate 7%
$1,540,057
Cap Rate 9%
$1,197,822
Alternative Uses
Best Use
Apartment 5plus
$1.54M
$1.35M – $1.80M
NOI $107,804 @ 7.0% cap · market cap 5.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,213 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
13
Residential units
Location Intelligence
Trade Area within ½ mile
6,688
Businesses Nearby
Explore this area
Business Placement
Demographics for 80205, CO
34,967
Population
19,040
Households
1.8
Avg Household Size
34
Median Age
61%
College-Educated
94%
High-School Grad
4.6 sq mi
ZIP Area
7,602
Density / Sq Mi
$98,770
Median Household Income
$69,760
Median Earnings
$1,816
Median Rent
$627,600
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 - Built in 1930, this 13-unit multifamily property is located on Lafayette Street with walkable access to Uptown and Cheesman Park.
Where is this apartment building located?
The property is located at 2139-2151 Lafayette St Denver, CO.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Built in 1930, this 13‑unit multifamily property is located at 2139–2151 Lafayette Street.; 13‑unit size offers economies of scale while remaining manageable for owner‑friendly operations.; Sits on an established residential street in Denver’s Whittier neighborhood.
