Denver Apartment Community For
2301-2395 W Virginia Avenue Denver, CO 80223
2301-2395 W Virginia Avenue, Denver, CO, 80223
$10,500,000
For Sale
$10,500,000
51-unit apartment community in Denver with updated electrical panels.
Property Size42,904 SF
Price / SF$244.73
Days on Market416
Property Features for 2301-2395 W Virginia Avenue
General Information
- Standard status
- Active
- Size
- 42,904 SF
Building Details
- Year Built
- 1972
Listing Agency
NORTHPEAK COMMERCIAL ADVISORS, LLC
Listed by
JOE HORNSTEIN
Source
Corcoran
Added: May 29, 2025 Checked: Mar 16 at 9:09 am
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 NORTHPEAK COMMERCIAL ADVISORS, LLC
Investment Insights
Based on property information with market context.
The Powderhorn Apartments, located at 2301-2395 W. Virginia Avenue in Denver, Colorado, is a 6-building apartment community comprising 51 units. Constructed in 1972, the property sits on a 1.76-acre lot within a quiet residential neighborhood. The community features 18 one-bedroom, one-bathroom units and 33 two-bedroom, one-bathroom units. The property also includes six laundry rooms, boilers, and roofs. Electrical panels were updated in 2017. This multifamily community is noted as the highest quality in the immediate area and offers views of Downtown Denver.
Key Highlights
- Stunning views of Downtown Denver
- Highest quality multifamily community in the immediate area
- 51‑unit apartment community with a mix of 1 and 2‑bedroom units
Local 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 | $1.26M | $29.40 |
| − Vacancy | −$76.9k | −$1.79 |
| EGI | $1.18M | $27.61 |
| − OpEx | −$533.0k | −$12.42 |
| NOI | $651.4k | $15.18 |
42,904 SF · lease $29.40/SF/yr · vacancy 6.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$9.31M
$8.14M – $10.86M
NOI $651,438 @ 7.0% cap · market cap 6.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.66M
$11.95M – $15.93M
NOI $956,052 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - 51-unit apartment community in Denver with updated electrical panels.
Where is this apartment building located?
The property is located at 2301-2395 W Virginia Avenue Denver, CO.
What is the asking price?
The asking price for this property is $10,500,000.
What are key features of this property?
This property features: Stunning views of Downtown Denver; Highest quality multifamily community in the immediate area; 51‑unit apartment community with a mix of 1 and 2‑bedroom units
