2025 Built 5-Unit Apartment
For Sale
$5,000,000
3493 & 3495 Lawrence St, Denver, CO 80205
Brand-new 5-unit building with five separate parcels, each unit offering 4 bedrooms, 4.5 baths, patio, and 1-car garage.
Property Size10,726 SF
Price / SF$466.16
Days on Market32
Property Features for 3493 & 3495 Lawrence St
General Information
Standard status
Active
Size
10,726 SF
Total Parking Spaces
5
Property subtype
Commercial
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$20,710
Amenities
patio
Building Details
Building Size
10,726 SF
Year Built
2025
Stories
3
Units
5
Tenancy
Multi
Listing Agency:
UNIQUE PROPERTIES LLC
(201) 274-5768
Listed By:
Brett MacDougall · License #FA.100049630
(201) 274-5768
Source:
Elliman
Added: Jul 24
Changed: Aug 15
Last Checked: Aug 24 at 9:10AM
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 UNIQUE PROPERTIES LLC
Investment Insights
Based on property information with market context.
Constructed in 2025, this 10,726 SF apartment building features five units, each laid out with 4 bedrooms and 4.5 bathrooms. Every unit includes a patio and a 1-car garage, and each unit is on a separate parcel. This configuration can support the future sale of individual units.
The property is located at 3493 & 3495 Lawrence St in Denver, CO, described as one block from the RiNo Art District within a fast-growing submarket. The area also reports very high walkability and biking, with a BikeScore of 98 and a WalkScore of 93, along with a TransitScore of 57.
Operationally, the building is presented as relatively low maintenance, with utilities separately metered and paid directly by each tenant in addition to monthly rent.
The property is located at 3493 & 3495 Lawrence St in Denver, CO, described as one block from the RiNo Art District within a fast-growing submarket. The area also reports very high walkability and biking, with a BikeScore of 98 and a WalkScore of 93, along with a TransitScore of 57.
Operationally, the building is presented as relatively low maintenance, with utilities separately metered and paid directly by each tenant in addition to monthly rent.
Key Highlights
- Brand‑new 5‑unit multifamily building built in 2025 with modern design and high‑quality construction.
- Each of the 5 units offers 4 bedrooms, 4.5 bathrooms, a patio, and a 1‑car garage.
- All units are on separate parcels, allowing the buyer to sell individual units in the future.
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
$162,860
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
3.26%
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%
$3,257,200
$3.3M
Cap Rate 7%
$2,326,571
$2.3M
Cap Rate 9%
$1,809,556
$1.8M
Market Conditions
NOI Build-Up for 10,726 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
$315.3K $29.40/SF
− Vacancy
−$19.2K −$1.79/SF
EGI
$296.1K $27.61/SF
− OpEx
−$133.2K −$12.42/SF
NOI
$162.9K $15.18/SF
Area
Denver, CO
Vacancy
6.10%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
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%
$3,257,200
Cap Rate 7%
$2,326,571
Cap Rate 9%
$1,809,556
Alternative Uses
Best Use
Apartment 5plus
$2.33M
$2.04M – $2.71M
NOI $162,860 @ 7.0% cap · market cap 3.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.41M
$2.99M – $3.98M
NOI $239,013 @ 7.0% cap · market cap 4.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,585
Businesses Nearby
Explore this area
Business Placement
Demographics for 80205, CO
34,967
Population
19,040
Households
1.8
Avg Household Size
34
Median Age
61%
College-Educated
94%
High-School Grad
4.6 sq mi
ZIP Area
7,602
Density / Sq Mi
$98,770
Median Household Income
$69,760
Median Earnings
$1,816
Median Rent
$627,600
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?
Apartment building - Brand-new 5-unit building with five separate parcels, each unit offering 4 bedrooms, 4.5 baths, patio, and 1-car garage.
Where is this apartment building located?
The property is located at 3493 & 3495 Lawrence St Denver, CO.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Brand‑new 5‑unit multifamily building built in 2025 with modern design and high‑quality construction.; Each of the 5 units offers 4 bedrooms, 4.5 bathrooms, a patio, and a 1‑car garage.; All units are on separate parcels, allowing the buyer to sell individual units in the future.
