Side-by-Side Triplex with Covered
New
For Sale
$1,050,000
3300-3304 W 22nd Avenue, Denver, CO 80211
Three two-bedroom units offer separate entries, shared outdoor space, and substantial on-site parking in a well-maintained property.
Property Size2,206 SF
Days on Market7
Property Features for 3300-3304 W 22nd Avenue
General Information
Standard status
Active
Size
2,206 SF
Property subtype
Triplex
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,828
Amenities
covered patio/outdoor kitchen area
covered back patio
private backyard area
Building Details
Building Size
2,206 SF
Year Built
1955
Listing Agency:
Compass - Denver
Listed By:
Erik Carman · License #100067438
(720) 663-8999
Source:
Eliselosassore
Added: Sep 9
Changed: Sep 12
Last Checked: Sep 15 at 11:12AM
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 Compass - Denver
Investment Insights
Based on property information with market context.
This 2,206-square-foot triplex, built in 1955, contains three two-bedroom, one-bath units arranged side by side. Each residence has front and rear access, while the property provides a shared private backyard enclosed by wrought-iron fencing. One unit includes a covered patio with an outdoor kitchen area, and the other two connect to a covered rear patio.
The property is currently unoccupied, allowing new leases to be established. Parking includes a two-car garage, two gated carports, and a concrete driveway. The address is on W 22nd Ave in Denver, east of Sloan’s Lake and near Jefferson Park and the Highlands.
The property is currently unoccupied, allowing new leases to be established. Parking includes a two-car garage, two gated carports, and a concrete driveway. The address is on W 22nd Ave in Denver, east of Sloan’s Lake and near Jefferson Park and the Highlands.
Key Highlights
- Three 2/1 units in a side‑by‑side triplex
- 2,206 SF property built in 1955
- Two‑car garage plus two gated carports
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
$36,661
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
3.49%
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%
$733,220
$733.2K
Cap Rate 7%
$523,729
$523.7K
Cap Rate 9%
$407,344
$407.3K
Market Conditions
NOI Build-Up for 2,206 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
$55.6K $25.20/SF
− Vacancy
−$3.2K −$1.46/SF
EGI
$52.4K $23.74/SF
− OpEx
−$15.7K −$7.12/SF
NOI
$36.7K $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%
$733,220
Cap Rate 7%
$523,729
Cap Rate 9%
$407,344
Alternative Uses
Best Use
Multifamily LT 5
$523.7K
$458.3K – $611.0K
NOI $36,661 @ 7.0% cap · market cap 3.49%
Second Best
Apartment 5plus
$478.5K
$418.7K – $558.3K
NOI $33,495 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$702.2K
$614.5K – $819.3K
NOI $49,157 @ 7.0% cap · market cap 4.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,356
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?
Triplex - Three two-bedroom units offer separate entries, shared outdoor space, and substantial on-site parking in a well-maintained property.
Where is this triplex located?
The property is located at 3300-3304 W 22nd Avenue Denver, CO.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Three 2/1 units in a side‑by‑side triplex; 2,206 SF property built in 1955; Two‑car garage plus two gated carports
