Renovated Apartments Near Barnum
For Sale
$875,000
303 Hooker St, Denver, CO 80219
Charming, renovated apartment building near Barnum Park with updated units.
Property Size4,031 SF
Lot Size0.29 Acres
Price / SF$217.07
Days on Market217
Property Features for 303 Hooker St
General Information
Standard status
Active
Size
4,031 SF
Class
B
Lot size
0.29 Acres
Property subtype
Multifamily
Building Details
Building Size
4,031 SF
Year Built
1929
Listing Agency:
Pinnacle Real Estate Advisors
(719) 651-8495
Listed By:
Jim Knowlton · License #FA100032419
(719) 651-8495
Source:
Pinnaclerea
Added: Jan 27
Changed: Aug 7
Last Checked: Aug 31 at 1:40PM
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 Pinnacle Real Estate Advisors
Investment Insights
Based on property information with market context.
This renovated apartment building offers charm and convenience, located steps from Barnum Park with access to the Barnum Recreation Center and Weir Gulch Trails. The property features updated units with vinyl plank flooring, updated appliances, and ample kitchen storage. The building provides a warm atmosphere with modern finishes and thoughtful details. It includes a large, shared outdoor space with a patio, on-site laundry, and free off-street parking. Residents can enjoy scenic mountain views and the sounds of a nearby stream. The location provides easy access to 6th Avenue, Downtown Denver, public transportation (RTD), shopping, and major highways. Nearby local favorites include Columbine Steak House and Impress Seafood. The property is located approximately 1.5 miles from the upcoming new Denver Broncos stadium at Burnham Yard. The unit mix includes one studio, five one-bedroom/one-bathroom units, and one two-bedroom/one-bathroom unit. The property has a newer roof and renovated units with updated kitchens, bathrooms, and flooring. It is close to the Knox Court Light Rail Station and sits on a 12,500 square foot lot, next to Barnum Park and the Weir Gulch Trail.
Key Highlights
- Steps from Barnum Park, Recreation Center, and Weir Gulch Trails.
- Renovated units with updated kitchens, bathrooms, and flooring.
- Proximity to the new Denver Broncos stadium at Burnham Yard (1.5 miles).
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
$54,210
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
6.20%
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%
$1,084,200
$1.1M
Cap Rate 7%
$774,429
$774.4K
Cap Rate 9%
$602,333
$602.3K
Market Conditions
NOI Build-Up for 4,031 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
$105.0K $26.04/SF
− Vacancy
−$6.4K −$1.59/SF
EGI
$98.6K $24.45/SF
− OpEx
−$44.4K −$11.00/SF
NOI
$54.2K $13.45/SF
Area
ZIP 80219
Vacancy
6.10%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$1,084,200
Cap Rate 7%
$774,429
Cap Rate 9%
$602,333
Alternative Uses
Best Use
Apartment 5plus
$774.4K
$677.6K – $903.5K
NOI $54,210 @ 7.0% cap · market cap 6.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,491 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
772
Businesses Nearby
Explore this area
Business Placement
Demographics for 80219, CO
61,585
Population
21,729
Households
2.8
Avg Household Size
33
Median Age
22%
College-Educated
72%
High-School Grad
7.4 sq mi
ZIP Area
8,322
Density / Sq Mi
$67,325
Median Household Income
$41,153
Median Earnings
$1,464
Median Rent
$426,200
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?
Apartment building - Charming, renovated apartment building near Barnum Park with updated units.
Where is this apartment building located?
The property is located at 303 Hooker St Denver, CO.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Steps from Barnum Park, Recreation Center, and Weir Gulch Trails.; Renovated units with updated kitchens, bathrooms, and flooring.; Proximity to the new Denver Broncos stadium at Burnham Yard (1.5 miles).
