Brick Duplex with
New
For Sale
$1,050,000
4732-4734 33rd Ave, Denver, CO 80212
Two residential units offer matching layouts, private porches, updated climate systems, and unfinished lower levels for flexible use.
Property Size1,980 SF
Price / SF$530.30
Days on Market2
Property Features for 4732-4734 33rd Ave
General Information
Standard status
Active
Size
1,980 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
central air
front porch
Building Details
Year Built
1925
Buildings
1
Construction
full brick
Listing Agency:
Keller Williams Realty Downtown LLC
(303) 539-5700
Listed By:
Greg Smith
(303) 543-5720
Source:
Coloradohomesource
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 2 at 2:10PM
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 Keller Williams Realty Downtown LLC
Investment Insights
Based on property information with market context.
This 1,980-square-foot duplex, constructed in 1925, contains two residential units with complementary layouts. Each side includes a living room, dining room, two bedrooms, a full bathroom, and a front porch. The lower levels are unfinished, providing storage or potential for future additional space. Full-brick exterior construction helps limit exterior maintenance, while both units have new furnaces and central air.
The property is located at 4732-4734 33rd Ave in Denver, next to Wolff Park on a quiet street. Highlands Square is minutes away and offers coffee shops, restaurants, Sweet Cow ice cream, and Mondo Vino. The West Highlands setting also places the duplex minutes from Sloan's Lake, Berkeley/Tennyson Street, and Edgewater.
The two-unit configuration supports separate residential occupancy, with each side offering its own interior living areas and porch. The combination of established construction, updated mechanical systems, and unfinished basement areas provides a clearly defined physical setup for ownership or rental use.
The property is located at 4732-4734 33rd Ave in Denver, next to Wolff Park on a quiet street. Highlands Square is minutes away and offers coffee shops, restaurants, Sweet Cow ice cream, and Mondo Vino. The West Highlands setting also places the duplex minutes from Sloan's Lake, Berkeley/Tennyson Street, and Edgewater.
The two-unit configuration supports separate residential occupancy, with each side offering its own interior living areas and porch. The combination of established construction, updated mechanical systems, and unfinished basement areas provides a clearly defined physical setup for ownership or rental use.
Key Highlights
- Two‑unit duplex totaling 1,980 square feet
- Each unit includes 2 bedrooms and 1 full bath
- Unfinished basements provide storage or future finished‑space potential
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
$32,905
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
3.13%
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%
$658,100
$658.1K
Cap Rate 7%
$470,071
$470.1K
Cap Rate 9%
$365,611
$365.6K
Market Conditions
NOI Build-Up for 1,980 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
$49.9K $25.20/SF
− Vacancy
−$2.9K −$1.46/SF
EGI
$47.0K $23.74/SF
− OpEx
−$14.1K −$7.12/SF
NOI
$32.9K $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%
$658,100
Cap Rate 7%
$470,071
Cap Rate 9%
$365,611
Alternative Uses
Best Use
Multifamily LT 5
$470.1K
$411.3K – $548.4K
NOI $32,905 @ 7.0% cap · market cap 3.13%
Second Best
Apartment 5plus
$429.5K
$375.8K – $501.1K
NOI $30,064 @ 7.0% cap · market cap 2.86%
Theoretical Best
Office A
$630.3K
$551.5K – $735.4K
NOI $44,121 @ 7.0% cap · market cap 4.20%
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
1,177
Businesses Nearby
Explore this area
Business Placement
Demographics for 80212, CO
20,397
Population
10,870
Households
1.9
Avg Household Size
38
Median Age
64%
College-Educated
96%
High-School Grad
3.6 sq mi
ZIP Area
5,666
Density / Sq Mi
$118,692
Median Household Income
$76,379
Median Earnings
$1,714
Median Rent
$705,300
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?
Duplex - Two residential units offer matching layouts, private porches, updated climate systems, and unfinished lower levels for flexible use.
Where is this duplex located?
The property is located at 4732-4734 33rd Ave Denver, CO.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,980 square feet; Each unit includes 2 bedrooms and 1 full bath; Unfinished basements provide storage or future finished‑space potential
