1974 Apartment
New
For Sale
$998,000
640 Jessup Street #101, Brighton, CO 80601
Multifamily property built in 1974, offered for sale in Brighton, Colorado.
Property Size6,188 SF
Price / SF$161.28
Days on Market5
Property Features for 640 Jessup Street #101
General Information
Standard status
Active
Size
6,188 SF
Property subtype
Commercial
Building Details
Year Built
1974
Tenancy
Multi
Listing Agency:
MMGREA LLC
(303) 918-8909
Listed By:
KEVIN WOOLSEY
Source:
Corcoran
Added: Jul 27
Changed: Jul 30
Last Checked: Jul 31 at 5:29AM
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 MMGREA LLC
Investment Insights
Based on property information with market context.
640 Jessup Street #101 is presented as a multifamily investment property for sale in Brighton, Colorado. The building was constructed in 1974 and totals 6,188 SF.
The offering description highlights operational and unit-turn prospects, including loss-to-lease recapture and interior renovation upside. It also cites a RUBS implementation opportunity related to currently master-metered utilities.
This property’s appeal is centered on its existing multifamily framework and the renovation and utility-submetering approaches described in the marketing materials, which may support future operational improvements.
The offering description highlights operational and unit-turn prospects, including loss-to-lease recapture and interior renovation upside. It also cites a RUBS implementation opportunity related to currently master-metered utilities.
This property’s appeal is centered on its existing multifamily framework and the renovation and utility-submetering approaches described in the marketing materials, which may support future operational improvements.
Key Highlights
- 6,188 SF multifamily building
- Built in 1974
- Loss‑to‑lease recapture opportunity cited in the offering
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 | $126.2k | $20.40 |
| − Vacancy | −$7.3k | −$1.18 |
| EGI | $118.9k | $19.22 |
| − OpEx | −$53.5k | −$8.65 |
| NOI | $65.4k | $10.57 |
6,188 SF · lease $20.40/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$934.3K
$817.5K – $1.09M
NOI $65,402 @ 7.0% cap · market cap 6.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office B
$1.13M
$986.8K – $1.32M
NOI $78,943 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
702
Businesses Nearby
Explore this area
Business Placement
Demographics for 80601, CO
40,460
Population
13,885
Households
2.9
Avg Household Size
34
Median Age
24%
College-Educated
88%
High-School Grad
26.2 sq mi
ZIP Area
1,544
Density / Sq Mi
$99,031
Median Household Income
$49,378
Median Earnings
$1,729
Median Rent
$471,900
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 - Multifamily property built in 1974, offered for sale in Brighton, Colorado.
Where is this apartment building located?
The property is located at 640 Jessup Street #101 Brighton, CO.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: 6,188 SF multifamily building; Built in 1974; Loss‑to‑lease recapture opportunity cited in the offering
