Four-Unit Boulder
For Sale
$1,400,000
5185 Santa Clara Pl, Boulder, CO 80303
Multifamily property in Keewaydin with access to Foothills Parkway and Baseline Road.
Property Size3,218 SF
Days on Market9
Property Features for 5185 Santa Clara Pl
General Information
Standard status
Active
Size
3,218 SF
Property subtype
Investment
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,274
Building Details
Building Size
3,218 SF
Year Built
1969
Listing Agency:
Kaufman Hagan
(650) 422-1035
Listed By:
Louis Passarello
(650) 422-1035
Source:
Elliman
Added: Aug 21
Changed: Aug 27
Last Checked: Aug 29 at 10:10AM
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 Kaufman Hagan
Investment Insights
Based on property information with market context.
Built in 1969, this four-unit multifamily property is located in Boulder’s Keewaydin neighborhood. The asset provides a compact residential income configuration with four units in an established setting.
Access to Foothills Parkway and Baseline Road connects the property with the surrounding Boulder area. The property information identifies University of Colorado students and young professionals as part of the tenant base it serves. Walk Score is 0, Bike Score is 91, and Transit Score is 50.
Access to Foothills Parkway and Baseline Road connects the property with the surrounding Boulder area. The property information identifies University of Colorado students and young professionals as part of the tenant base it serves. Walk Score is 0, Bike Score is 91, and Transit Score is 50.
Key Highlights
- Four‑unit multifamily property at 5185 Santa Clara Pl, Boulder, CO 80303
- Located in Boulder’s Keewaydin neighborhood
- Built in 1969
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
$54,410
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
3.89%
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%
$1,088,200
$1.1M
Cap Rate 7%
$777,286
$777.3K
Cap Rate 9%
$604,556
$604.6K
Market Conditions
NOI Build-Up for 3,218 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
$82.3K $25.56/SF
− Vacancy
−$4.5K −$1.41/SF
EGI
$77.7K $24.15/SF
− OpEx
−$23.3K −$7.25/SF
NOI
$54.4K $16.91/SF
Area
Boulder, CO
Vacancy
5.50%
Lease Rate
$25.56 /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%
$1,088,200
Cap Rate 7%
$777,286
Cap Rate 9%
$604,556
Alternative Uses
Best Use
Multifamily LT 5
$777.3K
$680.1K – $906.8K
NOI $54,410 @ 7.0% cap · market cap 3.89%
Second Best
Apartment 5plus
$724.4K
$633.9K – $845.1K
NOI $50,708 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$1.09M
$951.5K – $1.27M
NOI $76,120 @ 7.0% cap · market cap 5.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
716
Businesses Nearby
Explore this area
Business Placement
Demographics for 80303, CO
25,328
Population
12,583
Households
2
Avg Household Size
32
Median Age
79%
College-Educated
99%
High-School Grad
21.9 sq mi
ZIP Area
1,157
Density / Sq Mi
$77,344
Median Household Income
$31,661
Median Earnings
$1,833
Median Rent
$941,600
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?
Quadplex - Multifamily property in Keewaydin with access to Foothills Parkway and Baseline Road.
Where is this quadplex located?
The property is located at 5185 Santa Clara Pl Boulder, CO.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Four‑unit multifamily property at 5185 Santa Clara Pl, Boulder, CO 80303; Located in Boulder’s Keewaydin neighborhood; Built in 1969
