Well-Maintained 11-Unit Multifamily
For Sale
$2,700,000
5978 W 29th Avenue, Denver, CO 80214
Eleven-unit multifamily property in a rapidly developing Denver submarket.
Property Size8,932 SF
Price / SF$302.28
Days on Market429
Property Features for 5978 W 29th Avenue
General Information
Standard status
Active
Size
8,932 SF
Taxes and HOA fees
Annual Taxes
$12,714
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
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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.
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
812
Businesses Nearby
Explore this area
Business Placement
Demographics for 80214, CO
26,493
Population
13,298
Households
2
Avg Household Size
36
Median Age
39%
College-Educated
89%
High-School Grad
4.7 sq mi
ZIP Area
5,637
Density / Sq Mi
$74,259
Median Household Income
$48,094
Median Earnings
$1,516
Median Rent
$519,900
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?
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.
