Updated Side-by-Side
For Sale
$410,000
3501 Holly St, Denver, CO 80207
Two remodeled units offer private entrances, in-unit laundry, separate utilities, and shared garage parking.
Property Size850 SF
Days on Market134
Property Features for 3501 Holly St
General Information
Standard status
Active
Size
850 SF
Total Parking Spaces
2
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Parking per Unit
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,410
Amenities
in-unit laundry
detached garage
fenced yard
private yard
Building Details
Building Size
850 SF
Year Built
1954
Buildings
1
Stories
1
Construction
brick
Listing Agency:
MB Pezzuti \u0026 Associates
(303) 246-5009
Listed By:
John Pezzuti · License #3922836
(303) 246-5009
Source:
Corken
Added: Apr 21
Changed: Aug 31
Last Checked: Aug 30 at 9:11PM
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 MB Pezzuti \u0026 Associates
Investment Insights
Based on property information with market context.
Built in 1954, this side-by-side duplex contains two independent residences, each with 2 bedrooms, 1 full bathroom, and a single-level floor plan. Both homes have been remodeled with open living areas, quartz kitchen counters, tile backsplashes, stainless steel appliances, and a combination of laminate and tile flooring. Private exterior entrances and dedicated laundry rooms serve each unit.
Separate gas and electric meters provide distinct utility service for the residences. The shared detached garage contains two parking spaces, with one assigned to each unit. The level, fully fenced lot includes a private yard serving 3505 Holly Street. Across from Skyland Park and the Hiawatha Davis Jr. Recreation Center, the property is also near public transportation and neighborhood amenities. A Walk Score of 72 reflects the surrounding area's pedestrian accessibility.
Separate gas and electric meters provide distinct utility service for the residences. The shared detached garage contains two parking spaces, with one assigned to each unit. The level, fully fenced lot includes a private yard serving 3505 Holly Street. Across from Skyland Park and the Hiawatha Davis Jr. Recreation Center, the property is also near public transportation and neighborhood amenities. A Walk Score of 72 reflects the surrounding area's pedestrian accessibility.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 full bathroom per residence
- Remodeled interiors feature quartz countertops, tile backsplashes, and stainless steel appliances
- Each unit includes a private exterior entrance and in‑unit laundry room
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
$14,126
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
3.45%
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%
$282,520
$282.5K
Cap Rate 7%
$201,800
$201.8K
Cap Rate 9%
$156,956
$157.0K
Market Conditions
NOI Build-Up for 850 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
$21.4K $25.20/SF
− Vacancy
−$1.2K −$1.46/SF
EGI
$20.2K $23.74/SF
− OpEx
−$6.1K −$7.12/SF
NOI
$14.1K $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%
$282,520
Cap Rate 7%
$201,800
Cap Rate 9%
$156,956
Alternative Uses
Best Use
Multifamily LT 5
$201.8K
$176.6K – $235.4K
NOI $14,126 @ 7.0% cap · market cap 3.45%
Second Best
Apartment 5plus
$184.4K
$161.3K – $215.1K
NOI $12,906 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$270.6K
$236.8K – $315.7K
NOI $18,941 @ 7.0% cap · market cap 4.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
767
Businesses Nearby
Explore this area
Business Placement
Demographics for 80207, CO
21,170
Population
9,291
Households
2.3
Avg Household Size
38
Median Age
61%
College-Educated
93%
High-School Grad
3.9 sq mi
ZIP Area
5,428
Density / Sq Mi
$112,325
Median Household Income
$71,163
Median Earnings
$1,819
Median Rent
$661,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two remodeled units offer private entrances, in-unit laundry, separate utilities, and shared garage parking.
Where is this duplex located?
The property is located at 3501 Holly St Denver, CO.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 full bathroom per residence; Remodeled interiors feature quartz countertops, tile backsplashes, and stainless steel appliances; Each unit includes a private exterior entrance and in‑unit laundry room
