Well-Maintained 11-Unit Multifamily
5978 W 29th Avenue Denver, CO 80214
5978 W 29th Avenue, Denver, CO, 80214
$2,700,000
For Sale
$2,700,000
Eleven-unit multifamily property in a rapidly developing Denver submarket.
Property Size8,932 SF
Price / SF$302.28
Days on Market418
Property Features for 5978 W 29th Avenue
General Information
- Standard status
- Active
- Size
- 8,932 SF
Building Details
- Year Built
- 1962
Listing Agency
NORTHPEAK COMMERCIAL ADVISORS, LLC
(720) 738-1944
Listed by
JACK SHERMAN · License #FA 100085430
Source
Corcoran
Added: May 29, 2025 Updated: Mar 16 at 9:09 am Checked: Mar 16 at 9:09 am
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 NORTHPEAK COMMERCIAL ADVISORS, LLC
Investment Insights
Based on property information with market context.
The property at 5978 W 29th Avenue is an 11-unit multifamily building situated in a developing area. The 8,932 square foot building contains all 2-bedroom, 1-bathroom units, with select units including private balconies. Recent improvements have been made to major systems, including the roof (replaced in 2018) and electrical panels (updated in 2020 with permits). Additional updates include new laundry machines, parking lot improvements, and landscaping upgrades. The location provides access to Sloan’s Lake, as well as shopping and dining options on 29th Avenue. The surrounding area has experienced development, including nearby townhomes and the Edgewater Public Market.
Key Highlights
- Prime location near Sloan's Lake, 29th Avenue shops and restaurants, and Edgewater Public Market.
- Recent major system upgrades: roof (2018) and electrical panels (2020).
- All units are desirable 2‑bedroom/1‑bathroom layouts.
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 | $262.6k | $29.40 |
| − Vacancy | −$16.0k | −$1.79 |
| EGI | $246.6k | $27.61 |
| − OpEx | −$111.0k | −$12.42 |
| NOI | $135.6k | $15.18 |
8,932 SF · lease $29.40/SF/yr · vacancy 6.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.94M
$1.70M – $2.26M
NOI $135,620 @ 7.0% cap · market cap 5.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.84M
$2.49M – $3.32M
NOI $199,036 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Eleven-unit multifamily property in a rapidly developing Denver submarket.
Where is this apartment building located?
The property is located at 5978 W 29th Avenue Denver, CO.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Prime location near Sloan's Lake, 29th Avenue shops and restaurants, and Edgewater Public Market.; Recent major system upgrades: **roof (2018) and electrical panels (2020).**; All units are desirable 2‑bedroom/1‑bathroom layouts.
