Triplex with Private
For Sale
$699,000
375 S Quitman Street, Denver, CO 80219
Three-unit triplex features private garages, plus a covered patio and utility shed on a level lot.
Property Size3,017 SF
Price / SF$231.69
Days on Market99
Property Features for 375 S Quitman Street
General Information
Standard status
Active
Size
3,017 SF
Property subtype
Multi Family
Site & Location
Neighborhood
Barnum West
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,618
Amenities
private garages
private backyard
covered patio
utility shed
Building Details
Year Built
1940
Tenancy
Multi
Listing Agency:
RE/MAX Professionals
(303) 268-4250
Listed By:
Dustin Griffith · License #100005747
(303) 726-0410
Source:
Exitrealty
Added: Jul 25
Changed: Oct 25
Last Checked: Oct 23 at 5:29AM
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 RE/MAX Professionals
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Investment Insights
Based on property information with market context.
This triplex offers three separate units, each with its own private garage. The property includes a level lot with a private backyard, complemented by a covered patio and a utility shed, providing practical outdoor storage and space.
The home is positioned for convenient everyday access, described as being within minutes of neighborhood schools, public transportation, shopping, dining, and major roadways. BikeScore of 71 (very bikeable) and WalkScore of 76 (very walkable) are also noted, with a TransitScore of 41 (some transit).
The layout and site are also presented as well-suited for future improvements, including an option for additional garage space with alley access or an extended driveway, subject to plans and approvals.
The home is positioned for convenient everyday access, described as being within minutes of neighborhood schools, public transportation, shopping, dining, and major roadways. BikeScore of 71 (very bikeable) and WalkScore of 76 (very walkable) are also noted, with a TransitScore of 41 (some transit).
The layout and site are also presented as well-suited for future improvements, including an option for additional garage space with alley access or an extended driveway, subject to plans and approvals.
Key Highlights
- Triplex built in 1940 with 3 units, each with its own private garage
- Level lot with private backyard featuring a covered patio and utility shed
- Option for future garage with alley access or an extended driveway (per listing remarks)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,170
Cap Rate
6.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$883,400
$883.4K
Cap Rate 7%
$631,000
$631.0K
Cap Rate 9%
$490,778
$490.8K
Market Conditions
NOI Build-Up for 3,017 SF
Gross rent
$67.0K $22.20/SF
− Vacancy
−$3.9K −$1.29/SF
EGI
$63.1K $20.91/SF
− OpEx
−$18.9K −$6.27/SF
NOI
$44.2K $14.64/SF
Area
ZIP 80219
Vacancy
5.79%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$883,400
Cap Rate 7%
$631,000
Cap Rate 9%
$490,778
Alternative Uses
Best Use
Multifamily LT 5
$631.0K
$552.1K – $736.2K
NOI $44,170 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$579.6K
$507.2K – $676.2K
NOI $40,574 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$860.6K
$753.0K – $1.00M
NOI $60,243 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
343
Businesses Nearby
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Business Placement
Demographics for 80219, CO
61,585
Population
21,729
Households
2.8
Avg Household Size
33
Median Age
22%
College-Educated
72%
High-School Grad
7.4 sq mi
ZIP Area
8,322
Density / Sq Mi
$67,325
Median Household Income
$41,153
Median Earnings
$1,464
Median Rent
$426,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit triplex features private garages, plus a covered patio and utility shed on a level lot.
Where is this triplex located?
The property is located at 375 S Quitman Street Denver, CO.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Triplex built in 1940 with 3 units, each with its own private garage; Level lot with private backyard featuring a covered patio and utility shed; Option for future garage with alley access or an extended driveway (per listing remarks)
