37-Unit Apartment
For Sale
$7,950,000
2860 W 32nd Ave, Denver, CO 80211
Updated residences offer stainless steel appliances, shared outdoor areas, bike storage, and on-site parking.
Property Size24,069 SF
Days on Market72
Property Features for 2860 W 32nd Ave
General Information
Standard status
Active
Size
24,069 SF
Property subtype
Multifamily
Building Details
Building Size
24,069 SF
Year Built
1961
Listed By:
Chris Knowlton
(719) 325-6087
Source:
Pinnaclerea
Added: Aug 8
Changed: Oct 6
Last Checked: Oct 16 at 5:48AM
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 Chris Knowlton
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Investment Insights
Based on property information with market context.
This 37-unit apartment community, built in 1961, includes a mix of studio, one-bedroom, and two-bedroom residences. Updated units feature stainless steel appliances, while property improvements include upgrades to building systems. Covered and off-street parking are available for residents.
Common-area features include a gated courtyard with shared greenspace, communal patios, and bike storage. The property is located at 2860 W 32nd Ave in Denver, Colorado, within the Highlands area.
Common-area features include a gated courtyard with shared greenspace, communal patios, and bike storage. The property is located at 2860 W 32nd Ave in Denver, Colorado, within the Highlands area.
Key Highlights
- 37‑unit apartment community built in 1961
- Unit mix includes studios, one‑bedroom, and two‑bedroom residences
- Updated units with stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$365,455
Cap Rate
4.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,309,100
$7.3M
Cap Rate 7%
$5,220,786
$5.2M
Cap Rate 9%
$4,060,611
$4.1M
Market Conditions
NOI Build-Up for 24,069 SF
Gross rent
$707.6K $29.40/SF
− Vacancy
−$43.2K −$1.79/SF
EGI
$664.5K $27.61/SF
− OpEx
−$299.0K −$12.42/SF
NOI
$365.5K $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 Rate 5%
$7,309,100
Cap Rate 7%
$5,220,786
Cap Rate 9%
$4,060,611
Alternative Uses
Best Use
Apartment 5plus
$5.22M
$4.57M – $6.09M
NOI $365,455 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.66M
$6.70M – $8.94M
NOI $536,342 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,427
Businesses Nearby
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Business Placement
Demographics for 80211, CO
37,940
Population
20,973
Households
1.8
Avg Household Size
34
Median Age
71%
College-Educated
92%
High-School Grad
4.5 sq mi
ZIP Area
8,431
Density / Sq Mi
$117,685
Median Household Income
$78,573
Median Earnings
$1,931
Median Rent
$747,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Updated residences offer stainless steel appliances, shared outdoor areas, bike storage, and on-site parking.
Where is this apartment building located?
The property is located at 2860 W 32nd Ave Denver, CO.
What is the asking price?
The asking price for this property is $7,950,000.
What are key features of this property?
This property features: 37‑unit apartment community built in 1961; Unit mix includes studios, one‑bedroom, and two‑bedroom residences; Updated units with stainless steel appliances
