Seven-Unit Multifamily Townhome
For Sale
$1,300,000
5511 S Delaware St, Littleton, CO 80120
Well-maintained multifamily property with renovated units and rental upside.
Property Size6,674 SF
Price / SF$194.79
Days on Market140
Property Features for 5511 S Delaware St
General Information
Standard status
Active
Size
6,674 SF
Building Details
Year Built
1962
Listing Agency:
Pinnacle Real Estate Advisors
Listed By:
Quentin Shore · License #100088573
(720) 635-2863
Source:
Yourteamco
Added: Apr 24
Changed: Sep 8
Last Checked: Sep 10 at 12:28AM
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
Investment Insights
Based on property information with market context.
This multifamily property features seven townhome-style units, consisting of six two-bedroom, one-bath units and one three-bedroom, one-bath unit. The property's two-story layouts provide larger-than-average living spaces. Many of the units have been recently renovated, presenting investors with immediate rental upside through continued interior enhancements and operational efficiencies. Each apartment showcases a bright, open-concept design with updated finishes, including modern kitchens equipped with white shaker cabinetry, granite-style countertops, and stainless-steel appliances. Expansive living areas are complemented by wood-style flooring, abundant natural light, and thoughtfully designed layouts. Additional features include individually metered gas and electric utilities, allowing for expense control and improved operational efficiency. The property is located in Littleton, Colorado. The bike score is 54, making it bikeable. The walk score is 70, indicating it is somewhat walkable, and the transit score is 34, suggesting some transit options are available. The two-story layouts average roughly 1,000 SF per unit. This property can also be purchased with 5710 S. Pennsylvania Street (6-unit property) and with 5702 S. Pearl Street (4-unit property).
Key Highlights
- Immediate rental upside potential through continued interior enhancements.
- Seven spacious, townhome‑style units with a desirable unit mix (6 two‑bedroom/one‑bath, 1 three‑bedroom/one‑bath).
- Many units recently renovated with updated finishes, including modern kitchens with white shaker cabinetry, granite‑style countertops, and stainless‑steel appliances.
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
$101,380
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
7.80%
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%
$2,027,600
$2.0M
Cap Rate 7%
$1,448,286
$1.4M
Cap Rate 9%
$1,126,444
$1.1M
Market Conditions
NOI Build-Up for 6,674 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
$193.0K $28.92/SF
− Vacancy
−$8.7K −$1.30/SF
EGI
$184.3K $27.62/SF
− OpEx
−$82.9K −$12.43/SF
NOI
$101.4K $15.19/SF
Area
Douglas County, CO
Vacancy
4.50%
Lease Rate
$28.92 /SF/Yr
Expense Ratio
45.00%
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%
$2,027,600
Cap Rate 7%
$1,448,286
Cap Rate 9%
$1,126,444
Alternative Uses
Best Use
Apartment 5plus
$1.45M
$1.27M – $1.69M
NOI $101,380 @ 7.0% cap · market cap 7.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.29M
$2.01M – $2.67M
NOI $160,468 @ 7.0% cap · market cap 12.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,289
Businesses Nearby
Explore this area
Business Placement
Demographics for 80120, CO
29,445
Population
14,252
Households
2.1
Avg Household Size
42
Median Age
52%
College-Educated
96%
High-School Grad
8.4 sq mi
ZIP Area
3,505
Density / Sq Mi
$91,162
Median Household Income
$52,849
Median Earnings
$1,607
Median Rent
$596,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained multifamily property with renovated units and rental upside.
Where is this apartment building located?
The property is located at 5511 S Delaware St Littleton, CO.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Immediate rental upside potential through continued interior enhancements.; Seven spacious, townhome‑style units with a desirable unit mix (6 two‑bedroom/one‑bath, 1 three‑bedroom/one‑bath).; Many units recently renovated with updated finishes, including modern kitchens with white shaker cabinetry, granite‑style countertops, and stainless‑steel appliances.
