Updated Brick Fourplex with
For Sale
$899,000
2396 S Linden Court, Denver, CO 80222
Updated four-unit brick property with two-bedroom layouts, in-unit laundry hookups, and multiple off-street parking options.
Property Size3,234 SF
Price / SF$277.98
Days on Market289
Property Features for 2396 S Linden Court
General Information
Standard status
Active
Size
3,234 SF
Property subtype
Multi Family
Building Details
Year Built
1965
Listing Agency:
LoKation
(720) 628-0084
Listed By:
Ben Drotar · License #100088746
(720) 628-0084
Source:
Exitrealty
Added: Nov 7, 2025
Changed: Jul 6
Last Checked: Jul 23 at 6:01AM
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 LoKation
Investment Insights
Based on property information with market context.
This updated brick fourplex contains four spacious units, each with two bedrooms and one bathroom, and each equipped with a refrigerator, stove/oven, microwave, and washer/dryer hookups. The building includes an on-demand hot water system and a separate central boiler, with baseboard heat supported by a separate boiler and hot water provided through two Rinnai tankless units. The roof was replaced in 2019 and the water backflow assembly was replaced in 2025. One unit is described as a corner unit and includes fenced, low-maintenance front-yard landscaping.
The property includes off-street parking along the side and front, plus five designated alley parking spaces. The remarks note that all utilities are currently paid by the owner and included in the rent, while each unit has a separate electric meter that allows future electric billing to be transferred to tenants. All units are currently rented.
For investors or owners seeking a low-maintenance, income-producing multifamily asset, this fourplex offers consistent unit layouts and a package of mechanical and exterior updates. The presence of separate electric meters and dedicated parking supports straightforward operational management, while the in-unit appliance set and washer/dryer hookups improve day-to-day tenant convenience.
The property includes off-street parking along the side and front, plus five designated alley parking spaces. The remarks note that all utilities are currently paid by the owner and included in the rent, while each unit has a separate electric meter that allows future electric billing to be transferred to tenants. All units are currently rented.
For investors or owners seeking a low-maintenance, income-producing multifamily asset, this fourplex offers consistent unit layouts and a package of mechanical and exterior updates. The presence of separate electric meters and dedicated parking supports straightforward operational management, while the in-unit appliance set and washer/dryer hookups improve day-to-day tenant convenience.
Key Highlights
- Four‑unit brick fourplex built in 1965, with four 808 SF units, each offering 2 bedrooms and 1 bath
- Each unit includes a refrigerator, stove/oven, microwave, and washer/dryer hookups
- Owner‑paid utilities currently include all utilities in the rent; each unit has a separate electric meter for potential tenant billing
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
$53,745
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
5.98%
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%
$1,074,900
$1.1M
Cap Rate 7%
$767,786
$767.8K
Cap Rate 9%
$597,167
$597.2K
Market Conditions
NOI Build-Up for 3,234 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
$81.5K $25.20/SF
− Vacancy
−$4.7K −$1.46/SF
EGI
$76.8K $23.74/SF
− OpEx
−$23.0K −$7.12/SF
NOI
$53.7K $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%
$1,074,900
Cap Rate 7%
$767,786
Cap Rate 9%
$597,167
Alternative Uses
Best Use
Multifamily LT 5
$767.8K
$671.8K – $895.8K
NOI $53,745 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$701.5K
$613.8K – $818.4K
NOI $49,104 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$1.03M
$900.8K – $1.20M
NOI $72,065 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,036
Businesses Nearby
Explore this area
Business Placement
Demographics for 80222, CO
22,381
Population
11,625
Households
1.9
Avg Household Size
38
Median Age
57%
College-Educated
96%
High-School Grad
3.8 sq mi
ZIP Area
5,890
Density / Sq Mi
$85,354
Median Household Income
$57,833
Median Earnings
$1,715
Median Rent
$596,300
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 - Updated four-unit brick property with two-bedroom layouts, in-unit laundry hookups, and multiple off-street parking options.
Where is this quadplex located?
The property is located at 2396 S Linden Court Denver, CO.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Four‑unit brick fourplex built in 1965, with four 808 SF units, each offering 2 bedrooms and 1 bath; Each unit includes a refrigerator, stove/oven, microwave, and washer/dryer hookups; Owner‑paid utilities currently include all utilities in the rent; each unit has a separate electric meter for potential tenant billing
