Two-Unit Ranch
305 Jay St, Lakewood, CO 80226
For Sale
$675,000
Each residence has covered parking, and the property includes a partially finished basement.
Property Size3,100 SF
Lot Size0.25 Acres
Price / SF$217.74
Days on Market38
Property Features for 305 Jay St
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Additional Details
Cap Rate
Multifamily Units
Building Details
Year Built
Stories
Construction
Listing Agency:
NoCo Flex Real Estate
Listed By:
Ian Johnston
(970) 237-4749
Source:
Nocoflex
Added: Sep 30
Changed: Nov 6
Last Checked: Nov 6 at 2:01PM
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 NoCo Flex Real Estate
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Investment Insights
Based on property information with market context.
Built in 1959, this one-story duplex provides approximately 3,100 square feet across two residences, with six bedrooms and three bathrooms in total. Brick and masonry construction, hot-water heating, and a partially finished basement are among its features. Basement bedrooms are nonconforming. Each unit has approximately 220 square feet of covered carport parking, and the property occupies a quarter-acre lot.
The parcel backs onto and runs alongside O’Kane Park, with one neighboring property to the north. It is in the Lakewood Gardens subdivision in Lakewood, with access to major roadways, transit, shopping, dining, parks, and neighborhood amenities.
The two-unit configuration supports separate residential occupancy. The property is described with a 9.5 cap rate.
The parcel backs onto and runs alongside O’Kane Park, with one neighboring property to the north. It is in the Lakewood Gardens subdivision in Lakewood, with access to major roadways, transit, shopping, dining, parks, and neighborhood amenities.
The two-unit configuration supports separate residential occupancy. The property is described with a 9.5 cap rate.
Key Highlights
- Two‑unit property with approximately 3,100 square feet of building area
- Six bedrooms and three bathrooms in total; basement bedrooms are nonconforming
- Quarter‑acre lot with approximately 220 square feet of covered carport parking per unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,043
Cap Rate
6.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$900,860
$900.9K
Cap Rate 7%
$643,471
$643.5K
Cap Rate 9%
$500,478
$500.5K
Market Conditions
NOI Build-Up for 3,100 SF
Gross rent
$68.8K $22.20/SF
− Vacancy
−$4.5K −$1.44/SF
EGI
$64.3K $20.76/SF
− OpEx
−$19.3K −$6.23/SF
NOI
$45.0K $14.53/SF
Area
Lakewood, CO
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$900,860
Cap Rate 7%
$643,471
Cap Rate 9%
$500,478
Alternative Uses
Best Use
Multifamily LT 5
$643.5K
$563.0K – $750.7K
NOI $45,043 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$563.2K
$492.8K – $657.1K
NOI $39,426 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$928.5K
$812.5K – $1.08M
NOI $64,996 @ 7.0% cap · market cap 9.63%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,286
Businesses Nearby
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Business Placement
Demographics for 80226, CO
33,142
Population
14,742
Households
2.2
Avg Household Size
37
Median Age
38%
College-Educated
90%
High-School Grad
8.1 sq mi
ZIP Area
4,092
Density / Sq Mi
$78,466
Median Household Income
$44,640
Median Earnings
$1,738
Median Rent
$547,000
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Jefferson County, CO
Properties on Market for Duplexes in Jefferson County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has covered parking, and the property includes a partially finished basement.
Where is this duplex located?
The property is located at 305 Jay St Lakewood, CO.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two‑unit property with approximately 3,100 square feet of building area; Six bedrooms and three bathrooms in total; basement bedrooms are nonconforming; Quarter‑acre lot with approximately 220 square feet of covered carport parking per unit
