Remodeled Fourplex with
For Sale
$1,199,900
3445 W Mansfield Ave, Denver, CO 80236
Occupied multifamily property with varied unit layouts, private outdoor areas, storage buildings, and on-site recreational amenities.
Property Size4,515 SF
Price / SF$265.76
Days on Market39
Property Features for 3445 W Mansfield Ave
General Information
Standard status
Active
Size
4,515 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Opportunity Zone
Yes
Highway Access
Yes
Multifamily Units
4
Amenities
parking
private yard areas
storage sheds/outbuildings
basketball court
Building Details
Year Built
1920
Listing Agency:
Equity Colorado Real Estate
(720) 722-3209
Listed By:
Ivelina Mileva · License #100109488
Source:
Pathhometeam
Added: Jul 22
Changed: Aug 28
Last Checked: Aug 28 at 11:40AM
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 Equity Colorado Real Estate
Investment Insights
Based on property information with market context.
This remodeled fourplex contains approximately 4,515 sq ft and includes two- and three-bedroom layouts along with a studio. All units are occupied, and existing leases transfer with the sale. One unit is leased to two separate tenants. Recent capital work includes three new furnaces, HVAC improvements, updated electrical service, sewer infrastructure repairs, and replacement of most windows.
The property provides parking for 15+ vehicles, private yard areas, multiple storage sheds or outbuildings, and a basketball court. It sits on an oversized lot in a Qualified Opportunity Zone and was built in 1920. Current zoning may permit expansion to as many as 8 units, subject to City of Sheridan approvals and permits. The adjacent parcel at 3435 ½ W Mansfield Ave is offered separately. Downtown Denver, Santa Fe Drive, and US-285 are minutes away.
The property provides parking for 15+ vehicles, private yard areas, multiple storage sheds or outbuildings, and a basketball court. It sits on an oversized lot in a Qualified Opportunity Zone and was built in 1920. Current zoning may permit expansion to as many as 8 units, subject to City of Sheridan approvals and permits. The adjacent parcel at 3435 ½ W Mansfield Ave is offered separately. Downtown Denver, Santa Fe Drive, and US-285 are minutes away.
Key Highlights
- Approximately 4,515 sq ft fourplex with all units occupied and leases transferring at sale
- Unit mix includes 2- and 3‑bedroom layouts plus a studio
- Capital improvements include three new furnaces, HVAC upgrades, electrical work, sewer repairs, and most window replacements
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
$75,033
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
6.25%
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%
$1,500,660
$1.5M
Cap Rate 7%
$1,071,900
$1.1M
Cap Rate 9%
$833,700
$833.7K
Market Conditions
NOI Build-Up for 4,515 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
$113.8K $25.20/SF
− Vacancy
−$6.6K −$1.46/SF
EGI
$107.2K $23.74/SF
− OpEx
−$32.2K −$7.12/SF
NOI
$75.0K $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%
$1,500,660
Cap Rate 7%
$1,071,900
Cap Rate 9%
$833,700
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$937.9K – $1.25M
NOI $75,033 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$979.3K
$856.9K – $1.14M
NOI $68,554 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,610 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
649
Businesses Nearby
Explore this area
Business Placement
Demographics for 80236, CO
16,565
Population
6,549
Households
2.5
Avg Household Size
37
Median Age
32%
College-Educated
83%
High-School Grad
3.2 sq mi
ZIP Area
5,177
Density / Sq Mi
$83,543
Median Household Income
$49,921
Median Earnings
$1,636
Median Rent
$495,800
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?
Quadplex - Occupied multifamily property with varied unit layouts, private outdoor areas, storage buildings, and on-site recreational amenities.
Where is this quadplex located?
The property is located at 3445 W Mansfield Ave Denver, CO.
What is the asking price?
The asking price for this property is $1,199,900.
What are key features of this property?
This property features: Approximately 4,515 sq ft fourplex with all units occupied and leases transferring at sale; Unit mix includes 2- and 3‑bedroom layouts plus a studio; Capital improvements include three new furnaces, HVAC upgrades, electrical work, sewer repairs, and most window replacements
