Arvada Income Restricted Apartment
5350 Everett Street, Arvada, CO 80002
54-unit apartment building in Arvada, near Olde Town.
Type:Multifamily
Property size:
43,200 SFPrice / SF:
$164/SF- Added:
- Nov 21, 2025
- Days on Market:
- 193
- Last Refresh:
- May 19 at 8:59 pm
Property Features for 5350 Everett Street
General Information
- Standard status
- Active
- Size
- 43,200 SF
- Property subtype
- Multifamily
Listing agent Josh Newell License #FA100001439
Listing office Pinnacle Real Estate Advisors (303) 962-9555
Listing date Nov 21, 2025
Source Pinnaclerea
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 Pinnacle Real Estate Advisors
HighLights
- Existing Cash Flow: Operating 54‑unit apartment building.
- Prime Location: Situated just one mile from Olde Town Arvada and the Light Rail Station.
- High Year 2 CAP Rate: Projected 6.15% CAP Rate in Year 2.
- Value‑Add Potential: Opportunity to convert 33% of units to Section 8 vouchers starting in Year 2.
- Below Replacement Cost: Priced at $131k per unit and $173 per square foot.
- Income Restricted Housing: Rare opportunity to acquire income‑restricted housing in Arvada, CO.
Overview
This 54-unit apartment building in Arvada, Colorado, presents a rare opportunity to acquire income-restricted housing. The property is located just one mile from Olde Town Arvada and a light rail station. A value-add opportunity exists to convert the remaining 33% of the property to Section 8 vouchers beginning in year 2. The property is priced below replacement cost at $131k per unit and $173 per square foot. A Land Use Restriction Agreement (LURA) runs with the property until June 2040. The property offers a 6.15% year 2 CAP Rate, noting that tenant rents cannot increase for 12 months after closing. The building has a total size of 43,200 square feet.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.01M | $23.28 |
| − Vacancy | −$75.4k | −$1.75 |
| EGI | $930.3k | $21.53 |
| − OpEx | −$418.6k | −$9.69 |
| NOI | $511.6k | $11.84 |
43,200 SF · lease $23.28/SF/yr · vacancy 7.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$7.31M
$6.40M – $8.53M
NOI $511,648 @ 7.0% cap · market cap 7.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.55M
$10.11M – $13.48M
NOI $808,704 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Parkview Village West ...
Apartment Building
Piff Bar Carts
(Bike/Boat/Book/etc) Store
Location Insight
- Map
- Local Demand
- City
- Arvada
- County
- Jefferson
- State
- Colorado
- Longitude
- -105.096
- Latitude
- 39.7933
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 54-unit apartment building in Arvada, near Olde Town.
Where is this apartment building located?
The property is located at 5350 Everett Street Arvada, CO.
What is the asking price?
The asking price for this property is $7,100,000.
What are key features of this property?
This property features: Existing Cash Flow: Operating 54‑unit apartment building.; Prime Location: Situated just one mile from Olde Town Arvada and the Light Rail Station.; High Year 2 CAP Rate: Projected 6.15% CAP Rate in Year 2.
