Remodeled Duplex with Attached
For Sale
$875,000
Pending
5870 W 5th Avenue, Lakewood, CO 80226
Two updated residences offer spacious layouts, private fenced yards, central A/C, and attached garages on each side.
Property Size3,424 SF
Days on Market109
Property Features for 5870 W 5th Avenue
General Information
Standard status
Pending
Size
3,424 SF
Total Parking Spaces
2
Property subtype
Duplex
Units
Unit Mix
2 x 5BR/2BA
Multifamily Units
2
Parking per Unit
1
Amenities
central A/C
private fenced backyard
hardwood floors
updated kitchens
finished basements
laundry
Building Details
Building Size
3,424 SF
Year Built
1965
Buildings
1
Listing Agency:
Your Castle Real Estate Inc
(740) 334-9898
Listed By:
Chelsea Steen
(740) 334-9898
Source:
Anderson-alliance.kw
Added: May 14
Changed: Aug 30
Last Checked: Aug 30 at 1:21AM
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 Your Castle Real Estate Inc
Investment Insights
Based on property information with market context.
This duplex at 5870 W 5th Avenue includes two residences, each measuring 1,712 square feet with five bedrooms, two bathrooms, a one-car attached garage, central A/C, and a private fenced backyard. Both units have received extensive updates, including kitchens, bathrooms, flooring, mechanical systems, sewer lines, radon systems, furnaces, and water heaters.
The main floors feature hardwood flooring, living rooms, updated kitchens, two bedrooms, and a full bathroom. Finished lower levels add three bedrooms, another full bathroom, laundry areas, and carpeted living space. One unit is occupied through mid-July, while the second is vacant. The property is near 6th Avenue and minutes from Belmar shopping, restaurants, grocery stores, and entertainment. The oversized lot also offers room to potentially add an ADU or third unit, subject to applicable approvals.
The main floors feature hardwood flooring, living rooms, updated kitchens, two bedrooms, and a full bathroom. Finished lower levels add three bedrooms, another full bathroom, laundry areas, and carpeted living space. One unit is occupied through mid-July, while the second is vacant. The property is near 6th Avenue and minutes from Belmar shopping, restaurants, grocery stores, and entertainment. The oversized lot also offers room to potentially add an ADU or third unit, subject to applicable approvals.
Key Highlights
- Two‑unit property with 1,712 square feet per side
- Each residence includes 5 bedrooms and 2 bathrooms
- One‑car attached garage and private fenced backyard for each unit
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
$49,750
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
5.69%
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%
$995,000
$995.0K
Cap Rate 7%
$710,714
$710.7K
Cap Rate 9%
$552,778
$552.8K
Market Conditions
NOI Build-Up for 3,424 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
$76.0K $22.20/SF
− Vacancy
−$4.9K −$1.44/SF
EGI
$71.1K $20.76/SF
− OpEx
−$21.3K −$6.23/SF
NOI
$49.8K $14.53/SF
Area
Lakewood, CO
Vacancy
6.50%
Lease Rate
$22.20 /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%
$995,000
Cap Rate 7%
$710,714
Cap Rate 9%
$552,778
Alternative Uses
Best Use
Multifamily LT 5
$710.7K
$621.9K – $829.2K
NOI $49,750 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$622.1K
$544.3K – $725.8K
NOI $43,547 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$1.03M
$897.4K – $1.20M
NOI $71,789 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
957
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?
Duplex - Two updated residences offer spacious layouts, private fenced yards, central A/C, and attached garages on each side.
Where is this duplex located?
The property is located at 5870 W 5th Avenue Lakewood, CO.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Two‑unit property with 1,712 square feet per side; Each residence includes 5 bedrooms and 2 bathrooms; One‑car attached garage and private fenced backyard for each unit
