Four-Unit Multifamily
For Sale
$825,000
5410 W 3rd Place, Denver, CO 80226
All residences offer two-bedroom layouts in a 1962-built multifamily asset.
Property Size3,000 SF
Days on Market52
Property Features for 5410 W 3rd Place
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Quadruplex
Net Operating Income
$44,213
Financials
Cap Rate
5.36%
Average Monthly Rent
$1,300
Units
Unit Mix
4 x 2BR
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,084
Building Details
Building Size
3,000 SF
Year Built
1962
Listing Agency:
Marcus & Millichap Real Estate Investment Services of Atlanta, Inc.
Listed By:
Charles Burkhart · License #100103787
(214) 336-6064
Source:
Eliselosassore
Added: Aug 24
Changed: Oct 12
Last Checked: Oct 13 at 1:50AM
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 Marcus & Millichap Real Estate Investment Services of Atlanta, Inc.
Investment Insights
Based on property information with market context.
This four-unit multifamily property was constructed in 1962 and offers a consistent two-bedroom configuration across all residences. The property is presented as stabilized, with current operations supported by in-place rental income and an opportunity to address existing loss to lease through rent normalization rather than renovation work.
The unit mix provides straightforward operational consistency, while the reported current cap rate is 5.36%. A modeled Year One cap rate of 6.68% reflects projected improvement from bringing rents closer to market levels. The property is located at 5410 W 3rd Place.
The unit mix provides straightforward operational consistency, while the reported current cap rate is 5.36%. A modeled Year One cap rate of 6.68% reflects projected improvement from bringing rents closer to market levels. The property is located at 5410 W 3rd Place.
Key Highlights
- Four‑unit multifamily property
- 100% two‑bedroom unit mix
- Built in 1962
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,856
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$997,120
$997.1K
Cap Rate 7%
$712,229
$712.2K
Cap Rate 9%
$553,956
$554.0K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$75.6K $25.20/SF
− Vacancy
−$4.4K −$1.46/SF
EGI
$71.2K $23.74/SF
− OpEx
−$21.4K −$7.12/SF
NOI
$49.9K $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%
$997,120
Cap Rate 7%
$712,229
Cap Rate 9%
$553,956
Alternative Uses
Best Use
Multifamily LT 5
$712.2K
$623.2K – $830.9K
NOI $49,856 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$650.7K
$569.4K – $759.2K
NOI $45,551 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$955.0K
$835.6K – $1.11M
NOI $66,851 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
576
Businesses Nearby
Explore this area
Business Placement
Demographics for 80226, CO
33,142
Population
14,742
Households
2.2
Avg Household Size
37
Median Age
38%
College-Educated
90%
High-School Grad
8.1 sq mi
ZIP Area
4,092
Density / Sq Mi
$78,466
Median Household Income
$44,640
Median Earnings
$1,738
Median Rent
$547,000
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 - All residences offer two-bedroom layouts in a 1962-built multifamily asset.
Where is this quadplex located?
The property is located at 5410 W 3rd Place Denver, CO.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Four‑unit multifamily property; 100% two‑bedroom unit mix; Built in 1962
