Updated Quadplex with Detached
For Sale
$975,000
2219 S Ogden St, Denver, CO 80210
Four units, a detached garage, landscaped grounds, and upgraded building systems create a well-configured residential income property.
Property Size2,448 SF
Price / SF$398.28
Days on Market49
Property Features for 2219 S Ogden St
General Information
Standard status
Active
Size
2,448 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Gross Income
$75,240
Multifamily Units
4
Amenities
laundry room
landscaped yard
Building Details
Year Built
1890
Listing Agency:
Synergy Associates Inc
(303) 399-9930
Listed By:
Matt Moon, Matt Stephens · License #40007686
Source:
Teamuniteddenver
Added: Jul 15
Changed: Aug 30
Last Checked: Aug 31 at 7:08PM
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 Synergy Associates Inc
Investment Insights
Based on property information with market context.
This four-unit property includes two residences on the main level, one upstairs apartment, and a garden-level unit ranging from 400 to 800 square feet. A detached three-car garage with 8' doors is complemented by two storage units, a common laundry room with newer coin-operated machines, outdoor space, landscaped grounds, a sprinkler system, and ample parking. Each residence has its own furnace, and all furnaces have been replaced.
Capital improvements include a replaced roof, sewer line, electric panel, hot water heaters, newer windows, and additional updates throughout. Lease terms run from 1-2 years, with recent extensions in place. The property is on a residential block near Harvard Gulch, DU, Wash Park, shopping, and dining. Public transportation is less than two blocks away, with access to I-25 and 285 nearby.
Capital improvements include a replaced roof, sewer line, electric panel, hot water heaters, newer windows, and additional updates throughout. Lease terms run from 1-2 years, with recent extensions in place. The property is on a residential block near Harvard Gulch, DU, Wash Park, shopping, and dining. Public transportation is less than two blocks away, with access to I-25 and 285 nearby.
Key Highlights
- Four‑unit layout with residences on the main, second, and garden levels
- Units range from 400‑800 sqft each
- 3‑car detached garage with 8' doors and two additional storage units
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
$40,682
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
4.17%
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%
$813,640
$813.6K
Cap Rate 7%
$581,171
$581.2K
Cap Rate 9%
$452,022
$452.0K
Market Conditions
NOI Build-Up for 2,448 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
$61.7K $25.20/SF
− Vacancy
−$3.6K −$1.46/SF
EGI
$58.1K $23.74/SF
− OpEx
−$17.4K −$7.12/SF
NOI
$40.7K $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%
$813,640
Cap Rate 7%
$581,171
Cap Rate 9%
$452,022
Alternative Uses
Best Use
Multifamily LT 5
$581.2K
$508.5K – $678.0K
NOI $40,682 @ 7.0% cap · market cap 4.17%
Second Best
Apartment 5plus
$531.0K
$464.6K – $619.5K
NOI $37,170 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$779.3K
$681.9K – $909.2K
NOI $54,550 @ 7.0% cap · market cap 5.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,842
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four units, a detached garage, landscaped grounds, and upgraded building systems create a well-configured residential income property.
Where is this quadplex located?
The property is located at 2219 S Ogden St Denver, CO.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Four‑unit layout with residences on the main, second, and garden levels; Units range from 400‑800 sqft each; 3‑car detached garage with 8' doors and two additional storage units
