Updated Duplex Near Cherry Creek
For Sale
$1,549,000
540 Steele St, Denver, CO 80206
A thoughtfully updated residence with multiple living areas, private outdoor space, and convenient access to Cherry Creek North amenities.
Property Size3,608 SF
Days on Market52
Property Features for 540 Steele St
General Information
Standard status
Active
Size
3,608 SF
Total Parking Spaces
2
Property subtype
Duplex
Site & Location
Neighborhood
Cherry Creek
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$7,957
Amenities
gas fireplace
private courtyard with fountain
walk-in closets
jetted tub
laundry room
balcony
media and game room
Building Details
Building Size
3,608 SF
Year Built
2002
Listing Agency:
Serhant Colorado LLC
Listed By:
David Williams · License #100090903
(928) 279-8695
Source:
Guidere
Added: Sep 10
Changed: Oct 27
Last Checked: Oct 30 at 7:22PM
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 Serhant Colorado LLC
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Investment Insights
Based on property information with market context.
This duplex property features a substantial residence with Brazilian cherry hardwood floors, tall ceilings, two living areas, a dedicated dining area, and a gas fireplace. The central kitchen connects to a private side courtyard with a fountain. The upper level includes a primary suite with vaulted ceilings, a fireplace, two walk-in closets, a five-piece bath, and a jetted tub, along with a second bedroom, bath, laundry room, office, and balcony. The finished lower level adds a media and game room, third bedroom, and full bath. Updates include fresh interior paint, new upper-level carpet, a revised stair railing, and a new heat pump and furnace serving the main and lower levels in 2025. The attached two-car garage has custom cabinetry, storage, and an epoxy floor.
Key Highlights
- Duplex property at 540 Steele St in Denver, CO 80206
- Built in 2002 with updates completed in 2025
- Primary suite includes vaulted ceilings, fireplace, two walk‑in closets, and a five‑piece bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,960
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,199,200
$1.2M
Cap Rate 7%
$856,571
$856.6K
Cap Rate 9%
$666,222
$666.2K
Market Conditions
NOI Build-Up for 3,608 SF
Gross rent
$90.9K $25.20/SF
− Vacancy
−$5.3K −$1.46/SF
EGI
$85.7K $23.74/SF
− OpEx
−$25.7K −$7.12/SF
NOI
$60.0K $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%
$1,199,200
Cap Rate 7%
$856,571
Cap Rate 9%
$666,222
Alternative Uses
Best Use
Multifamily LT 5
$856.6K
$749.5K – $999.3K
NOI $59,960 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$782.6K
$684.8K – $913.1K
NOI $54,783 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,399 @ 7.0% cap · market cap 5.19%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5,435
Businesses Nearby
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Business Placement
Demographics for 80206, CO
26,108
Population
15,580
Households
1.7
Avg Household Size
38
Median Age
78%
College-Educated
97%
High-School Grad
2.5 sq mi
ZIP Area
10,443
Density / Sq Mi
$102,248
Median Household Income
$69,908
Median Earnings
$1,694
Median Rent
$892,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - A thoughtfully updated residence with multiple living areas, private outdoor space, and convenient access to Cherry Creek North amenities.
Where is this duplex located?
The property is located at 540 Steele St Denver, CO.
What is the asking price?
The asking price for this property is $1,549,000.
What are key features of this property?
This property features: Duplex property at 540 Steele St in Denver, CO 80206; Built in 2002 with updates completed in 2025; Primary suite includes vaulted ceilings, fireplace, two walk‑in closets, and a five‑piece bath
