Two-Unit Duplex with
For Sale
$640,000
2906 N Colorado Boulevard, Denver, CO 80207
Two four-bedroom units offer storage, off-street parking, and laundry hookups in an established Denver neighborhood.
Property Size1,540 SF
Price / SF$415.58
Days on Market93
Property Features for 2906 N Colorado Boulevard
General Information
Standard status
Active
Size
1,540 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,549
Building Details
Year Built
1945
Listing Agency:
eXp Realty, LLC
(720) 270-8750
Listed By:
Lawrence Childress · License #40038859
(720) 270-8750
Source:
Exitrealty
Added: May 31
Changed: Aug 30
Last Checked: Aug 30 at 4:30PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This 1,540-square-foot duplex contains two four-bedroom units, with one non-conforming bedroom in each. Both units include substantial storage, including a large dedicated storage room, and each has 2+ off-street parking spaces. One unit features an expansive sunroom, while the property also includes washer and dryer hookups. Recent improvements include a new furnace, new water heater, updated plumbing, and new windows. The basements require work.
The property sits on a 9,710-square-foot lot in Northeast Park Hill and faces south and west. City Park, City Park Golf Course, the Denver Zoo, the IMAX, and the Denver Museum of Nature & Science are minutes away. I-70 and RTD service are nearby, providing connections to downtown Denver, Denver International Airport, and surrounding areas.
The property sits on a 9,710-square-foot lot in Northeast Park Hill and faces south and west. City Park, City Park Golf Course, the Denver Zoo, the IMAX, and the Denver Museum of Nature & Science are minutes away. I-70 and RTD service are nearby, providing connections to downtown Denver, Denver International Airport, and surrounding areas.
Key Highlights
- Two‑unit duplex with 4 bedrooms in each unit, including 1 non‑conforming bedroom per unit
- 1,540 SF property on a 9,710 SQ FT lot
- 2+ off‑street parking spaces allotted to each unit
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
$25,593
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
4.00%
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%
$511,860
$511.9K
Cap Rate 7%
$365,614
$365.6K
Cap Rate 9%
$284,367
$284.4K
Market Conditions
NOI Build-Up for 1,540 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
$38.8K $25.20/SF
− Vacancy
−$2.2K −$1.46/SF
EGI
$36.6K $23.74/SF
− OpEx
−$11.0K −$7.12/SF
NOI
$25.6K $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%
$511,860
Cap Rate 7%
$365,614
Cap Rate 9%
$284,367
Alternative Uses
Best Use
Multifamily LT 5
$365.6K
$319.9K – $426.6K
NOI $25,593 @ 7.0% cap · market cap 4.00%
Second Best
Apartment 5plus
$334.0K
$292.3K – $389.7K
NOI $23,383 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$490.2K
$429.0K – $572.0K
NOI $34,317 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
672
Businesses Nearby
Explore this area
Business Placement
Demographics for 80207, CO
21,170
Population
9,291
Households
2.3
Avg Household Size
38
Median Age
61%
College-Educated
93%
High-School Grad
3.9 sq mi
ZIP Area
5,428
Density / Sq Mi
$112,325
Median Household Income
$71,163
Median Earnings
$1,819
Median Rent
$661,900
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?
Duplex - Two four-bedroom units offer storage, off-street parking, and laundry hookups in an established Denver neighborhood.
Where is this duplex located?
The property is located at 2906 N Colorado Boulevard Denver, CO.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: Two‑unit duplex with 4 bedrooms in each unit, including 1 non‑conforming bedroom per unit; 1,540 SF property on a 9,710 SQ FT lot; 2+ off‑street parking spaces allotted to each unit
