Four-Unit Townhome-Style
For Sale
Contact for pricing
3394 W 66th Ave, Denver, CO 80221
Four two-bedroom residences offer two-level layouts, dedicated off-street parking, and outdoor space on a large lot.
Property Size4,020 SF
Price / SF$199
Days on Market158
Property Features for 3394 W 66th Ave
General Information
Standard status
Active
Size
4,020 SF
Class
C
Property subtype
Multifamily
Net Operating Income
$41,563
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Building Details
Year Built
1983
Buildings
1
Stories
2
Units
4
Construction
townhome-style
Listing Agency:
Pinnacle Real Estate Advisors
(303) 962-9555
Listed By:
Jim Knowlton · License #CO FA100032419
Source:
Crexi
Added: Mar 26
Changed: Aug 29
Last Checked: Aug 29 at 5:39PM
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.
Built in 1983, this 4,020-square-foot quadplex contains four two-bedroom, one-bath residences. Each home exceeds 1,000 square feet and is arranged across two levels in a townhome-style configuration, distinguishing the property from stacked apartment layouts. Dedicated off-street parking and a large lot with outdoor space are also included.
The property is located at 3394 W 66th Ave in Denver, Colorado, with access to several recently redeveloped parks and expanding greenway systems. Downtown Denver and Golden are each less than 15 minutes away, providing convenient regional access while maintaining proximity to outdoor amenities.
The four-unit configuration, consistent floor plans, and separately arranged residences create a straightforward multifamily layout for evaluation.
The property is located at 3394 W 66th Ave in Denver, Colorado, with access to several recently redeveloped parks and expanding greenway systems. Downtown Denver and Golden are each less than 15 minutes away, providing convenient regional access while maintaining proximity to outdoor amenities.
The four-unit configuration, consistent floor plans, and separately arranged residences create a straightforward multifamily layout for evaluation.
Key Highlights
- Four‑unit quadplex with four two‑bedroom, one‑bath residences
- Each residence exceeds 1,000 square feet and spans two levels
- Townhome‑style layouts rather than stacked apartment units
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
$66,807
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
8.35%
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%
$1,336,140
$1.3M
Cap Rate 7%
$954,386
$954.4K
Cap Rate 9%
$742,300
$742.3K
Market Conditions
NOI Build-Up for 4,020 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
$101.3K $25.20/SF
− Vacancy
−$5.9K −$1.46/SF
EGI
$95.4K $23.74/SF
− OpEx
−$28.6K −$7.12/SF
NOI
$66.8K $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%
$1,336,140
Cap Rate 7%
$954,386
Cap Rate 9%
$742,300
Alternative Uses
Best Use
Multifamily LT 5
$954.4K
$835.1K – $1.11M
NOI $66,807 @ 7.0% cap · market cap 8.35%
Second Best
Apartment 5plus
$872.0K
$763.0K – $1.02M
NOI $61,038 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,580 @ 7.0% cap · market cap 11.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
Explore this area
Business Placement
Demographics for 80221, CO
42,224
Population
15,165
Households
2.8
Avg Household Size
34
Median Age
28%
College-Educated
84%
High-School Grad
9.1 sq mi
ZIP Area
4,640
Density / Sq Mi
$84,425
Median Household Income
$42,720
Median Earnings
$1,642
Median Rent
$449,700
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?
Quadplex - Four two-bedroom residences offer two-level layouts, dedicated off-street parking, and outdoor space on a large lot.
Where is this quadplex located?
The property is located at 3394 W 66th Ave Denver, CO.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: Four‑unit quadplex with four two‑bedroom, one‑bath residences; Each residence exceeds 1,000 square feet and spans two levels; Townhome‑style layouts rather than stacked apartment units
