Light-Filled Condo in Spanish
For Sale
$345,000
5035 W 73rd Avenue, Westminster, CO 80030
Corner unit condo with modern updates and community amenities.
Property Size1,261 SF
Price / SF$273.59
Days on Market475
Property Features for 5035 W 73rd Avenue
General Information
Standard status
Active
Size
1,261 SF
Property subtype
Condominium
Amenities
Fireplace
Central Air
Forced Air
Dishwasher
Disposal
Dryer
Microwave
Oven
Refrigerator
Washer
Deck, Electricity Available, Natural Gas Available, Spanish Tile
Building Details
Building Size
1,261 SF
Year Built
1984
Listing Agency:
Compass - Boulder
(720) 480-7650
Listed By:
Brian Sundberg · License #40013938
(303) 931-5483
Source:
Kw
Added: Apr 25, 2025
Changed: Aug 8
Last Checked: Jul 16 at 8:35AM
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 Compass - Boulder
Investment Insights
Based on property information with market context.
This upper corner unit condo, located in the Spanish Oaks community, features 2 bedrooms and 2 bathrooms. The property benefits from abundant natural light. A private, lower-level entry leads to an open-concept main floor, which includes vaulted ceilings, a living room with a wood fireplace, a formal dining area, and a galley-style kitchen with ample cabinet space. A private balcony overlooks common area greens and includes a large storage closet. The unit features newer luxury plank flooring throughout. The primary suite includes a spacious ensuite bathroom. The two bedrooms are situated on opposite sides of the unit. A washer and dryer are included. The condo is FHA approved and eligible for a down payment assistance grant. The property offers convenient access to shopping, dining, and major highways.
Key Highlights
- FHA approved and eligible for down payment assistance grant (no repayment required).
- Upper corner unit with abundant natural light.
- Open‑concept main floor featuring vaulted ceilings and a wood fireplace.
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
$16,211
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
4.70%
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%
$324,220
$324.2K
Cap Rate 7%
$231,586
$231.6K
Cap Rate 9%
$180,122
$180.1K
Market Conditions
NOI Build-Up for 1,261 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
$31.6K $25.08/SF
− Vacancy
−$2.2K −$1.71/SF
EGI
$29.5K $23.37/SF
− OpEx
−$13.3K −$10.52/SF
NOI
$16.2K $12.86/SF
Area
Westminster, CO
Vacancy
6.80%
Lease Rate
$25.08 /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%
$324,220
Cap Rate 7%
$231,586
Cap Rate 9%
$180,122
Alternative Uses
Best Use
Apartment 5plus
$231.6K
$202.6K – $270.2K
NOI $16,211 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$368.6K
$322.5K – $430.0K
NOI $25,800 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
904
Businesses Nearby
Explore this area
Business Placement
Demographics for 80030, CO
15,885
Population
6,823
Households
2.3
Avg Household Size
36
Median Age
30%
College-Educated
87%
High-School Grad
2.6 sq mi
ZIP Area
6,110
Density / Sq Mi
$61,964
Median Household Income
$43,004
Median Earnings
$1,296
Median Rent
$422,300
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?
Apartment building - Corner unit condo with modern updates and community amenities.
Where is this apartment building located?
The property is located at 5035 W 73rd Avenue Westminster, CO.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: FHA approved and eligible for down payment assistance grant (no repayment required).; Upper corner unit with abundant natural light.; Open‑concept main floor featuring vaulted ceilings and a wood fireplace.
