Remodeled Up/Down
For Sale
$900,000
3110 Vallejo St, Denver, CO 80211
Two separately configured units create a flexible Denver income property with updated interiors and building systems.
Property Size1,600 SF
Days on Market114
Property Features for 3110 Vallejo St
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,620
Building Details
Building Size
1,600 SF
Year Built
1896
Year Renovated
2016
Listing Agency:
Real Broker, LLC DBA Real
(347) 884-4178
Listed By:
Connor O'Halloran
(347) 884-4178
Source:
Corken
Added: May 8
Changed: Aug 29
Last Checked: Aug 29 at 3:54PM
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 Real Broker, LLC DBA Real
Investment Insights
Based on property information with market context.
This up/down duplex contains two units, each configured with 2 bedrooms and 1 bathroom. Both residences underwent a comprehensive renovation in 2016, including electrical, plumbing, HVAC, roofing, windows, lighting, bathrooms, flooring, concrete, and exterior brickwork. Interior finishes include quartz countertops, stainless steel appliances, reclaimed-wood feature walls, and custom iron stairs leading to rear patios.
The property is located at 3110 Vallejo St in Denver’s Lower Highlands area, with Downtown within walking distance. The surrounding area includes El Five, Linger, Root Down, Avanti Food & Beverage, Little Man Ice Cream, Postino LoHi, and Highland Tap and Burger. The building was originally constructed in 1896.
The property is located at 3110 Vallejo St in Denver’s Lower Highlands area, with Downtown within walking distance. The surrounding area includes El Five, Linger, Root Down, Avanti Food & Beverage, Little Man Ice Cream, Postino LoHi, and Highland Tap and Burger. The building was originally constructed in 1896.
Key Highlights
- Two‑unit up/down duplex with 2‑bed, 1‑bath layout in each unit
- Comprehensively remodeled in 2016
- Renovated electrical, plumbing, roof, HVAC, windows, lighting, and concrete
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
$26,590
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
2.95%
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%
$531,800
$531.8K
Cap Rate 7%
$379,857
$379.9K
Cap Rate 9%
$295,444
$295.4K
Market Conditions
NOI Build-Up for 1,600 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
$40.3K $25.20/SF
− Vacancy
−$2.3K −$1.46/SF
EGI
$38.0K $23.74/SF
− OpEx
−$11.4K −$7.12/SF
NOI
$26.6K $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%
$531,800
Cap Rate 7%
$379,857
Cap Rate 9%
$295,444
Alternative Uses
Best Use
Multifamily LT 5
$379.9K
$332.4K – $443.2K
NOI $26,590 @ 7.0% cap · market cap 2.95%
Second Best
Apartment 5plus
$347.1K
$303.7K – $404.9K
NOI $24,294 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$509.3K
$445.7K – $594.2K
NOI $35,654 @ 7.0% cap · market cap 3.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,216
Businesses Nearby
Explore this area
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
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 separately configured units create a flexible Denver income property with updated interiors and building systems.
Where is this duplex located?
The property is located at 3110 Vallejo St Denver, CO.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Two‑unit up/down duplex with 2‑bed, 1‑bath layout in each unit; Comprehensively remodeled in 2016; Renovated electrical, plumbing, roof, HVAC, windows, lighting, and concrete
