Three-Unit Multifamily
For Sale
$600,000
5109 E 34th Ave, Denver, CO 80207
A varied apartment mix serves multiple renter profiles in North Park Hill.
Property Size2,749 SF
Days on Market51
Property Features for 5109 E 34th Ave
General Information
Standard status
Active
Size
2,749 SF
Property subtype
Multifamily
Occupancy
95%
Net Operating Income
$35,816
Financials
Asking Price
$600,000
Cap Rate
5.97%
Units
Unit Mix
1 x 1BR, 1 x 2BR, 1 x 4BR
Multifamily Units
3
Amenities
DIVERSIFIED UNIT MIX WITH ONE-, TWO-, AND FOUR-BEDROOM FLOOR PLANS
STRONG CASH FLOW WITH 13%+ NOI GROWTH IN YEAR ONE
ATTAINABLE ENTRY POINT FOR MULTIFAMILY OWNERSHIP IN NORTH PARK HILL
STABILIZED THREE-UNIT ASSET WITH MEANINGFUL YIELD EXPANSION
DESIRABLE NORTH PARK HILL LOCATION WITH PROXIMITY TO DOWNTOWN DENVER
ORGANIC NOI GROWTH THROUGH BELOW-MARKET RENTS
Building Details
Building Size
2,749 SF
Units
3
Listed By:
Jason Hornik · License #License(s): CO: FA. 100070708
(303) 328-2064
Source:
Marcusmillichap
Added: Aug 26
Changed: Oct 9
Last Checked: Oct 14 at 7:34PM
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 Jason Hornik
Investment Insights
Based on property information with market context.
This three-unit multifamily property includes one one-bedroom apartment, one two-bedroom apartment, and one four-bedroom apartment. The range of floor plans accommodates households with differing space requirements within a compact residential income property.
The property is located in Denver’s North Park Hill neighborhood, with proximity to Downtown Denver, City Park, major employment centers, and transportation corridors. Its established unit configuration and varied bedroom mix provide a straightforward multifamily format for ownership and management.
The property is located in Denver’s North Park Hill neighborhood, with proximity to Downtown Denver, City Park, major employment centers, and transportation corridors. Its established unit configuration and varied bedroom mix provide a straightforward multifamily format for ownership and management.
Key Highlights
- Three‑unit multifamily property
- Unit mix includes one 1‑bedroom, one 2‑bedroom, and one 4‑bedroom apartment
- Located in Denver’s North Park Hill neighborhood
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,685
Cap Rate
7.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$913,700
$913.7K
Cap Rate 7%
$652,643
$652.6K
Cap Rate 9%
$507,611
$507.6K
Market Conditions
NOI Build-Up for 2,749 SF
Gross rent
$69.3K $25.20/SF
− Vacancy
−$4.0K −$1.46/SF
EGI
$65.3K $23.74/SF
− OpEx
−$19.6K −$7.12/SF
NOI
$45.7K $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 Rate 5%
$913,700
Cap Rate 7%
$652,643
Cap Rate 9%
$507,611
Alternative Uses
Best Use
Multifamily LT 5
$652.6K
$571.1K – $761.4K
NOI $45,685 @ 7.0% cap · market cap 7.61%
Second Best
Apartment 5plus
$596.3K
$521.8K – $695.7K
NOI $41,740 @ 7.0% cap · market cap 6.96%
Theoretical Best
Office A
$875.1K
$765.7K – $1.02M
NOI $61,257 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
801
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Triplex - A varied apartment mix serves multiple renter profiles in North Park Hill.
Where is this triplex located?
The property is located at 5109 E 34th Ave Denver, CO.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Three‑unit multifamily property; Unit mix includes one 1‑bedroom, one 2‑bedroom, and one 4‑bedroom apartment; Located in Denver’s North Park Hill neighborhood
