Updated
New
For Sale
$2,537,000
650-654 Inca Pkwy, Boulder, CO 80303
Three five-bedroom residences have remodeled kitchens and bathrooms, with leases extending through August 2027.
Property Size5,589 SF
Price / SF$453.93
Days on Market7
Property Features for 650-654 Inca Pkwy
General Information
Standard status
Active
Size
5,589 SF
Property subtype
Multi-Family
Zoning
RM-2
Occupancy
100%
Net Operating Income
$139,582
Financials
Cap Rate
5.5%
Gross Rent Multiplier
14.14
Site & Location
Neighborhood
Southeast Boulder
Public Transit
Yes
Units
Unit Mix
3 x 5BR/2BA
Multifamily Units
3
Building Details
Year Built
1962
Listing Agency:
Stellar Properties, LLC
Listed By:
Antonio Martinez
(303) 886-4065
Source:
Thecerettogroup
Added: Oct 20
Changed: Oct 22
Last Checked: Sep 11 at 10:13AM
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 Stellar Properties, LLC
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Investment Insights
Based on property information with market context.
At 650-654 Inca Pkwy, this 1962 triplex contains three residences, each with 5 bedrooms and 2 bathrooms. Improvements include remodeled kitchens and bathrooms, replacement windows, roof work, furnace upgrades, sump pumps, and appliances. RM-2 zoning applies, subject to City of Boulder approval for future use. The reported cap rate is 5.5, GRM is 14.14, and vacancy rate is 0%. Current leases run through August 2027.
The property is in Boulder’s Williams Village area, with access to transit on Baseline Road and nearby bike routes. Parks, recreation, neighborhood shopping, and the University of Colorado are also nearby.
The property is in Boulder’s Williams Village area, with access to transit on Baseline Road and nearby bike routes. Parks, recreation, neighborhood shopping, and the University of Colorado are also nearby.
Key Highlights
- Three units, each configured with 5 bedrooms and 2 bathrooms
- Current leases extend through August 2027
- RM‑2 zoning, with future use subject to City of Boulder approval
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$94,498
Cap Rate
3.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,889,960
$1.9M
Cap Rate 7%
$1,349,971
$1.3M
Cap Rate 9%
$1,049,978
$1.0M
Market Conditions
NOI Build-Up for 5,589 SF
Gross rent
$142.9K $25.56/SF
− Vacancy
−$7.9K −$1.41/SF
EGI
$135.0K $24.15/SF
− OpEx
−$40.5K −$7.25/SF
NOI
$94.5K $16.91/SF
Area
Boulder, CO
Vacancy
5.50%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,889,960
Cap Rate 7%
$1,349,971
Cap Rate 9%
$1,049,978
Alternative Uses
Best Use
Multifamily LT 5
$1.35M
$1.18M – $1.57M
NOI $94,498 @ 7.0% cap · market cap 3.72%
Second Best
Apartment 5plus
$1.26M
$1.10M – $1.47M
NOI $88,069 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,204 @ 7.0% cap · market cap 5.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
774
Businesses Nearby
Explore this area
Business Placement
Demographics for 80303, CO
25,328
Population
12,583
Households
2
Avg Household Size
32
Median Age
79%
College-Educated
99%
High-School Grad
21.9 sq mi
ZIP Area
1,157
Density / Sq Mi
$77,344
Median Household Income
$31,661
Median Earnings
$1,833
Median Rent
$941,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three five-bedroom residences have remodeled kitchens and bathrooms, with leases extending through August 2027.
Where is this triplex located?
The property is located at 650-654 Inca Pkwy Boulder, CO.
What is the asking price?
The asking price for this property is $2,537,000.
What are key features of this property?
This property features: Three units, each configured with 5 bedrooms and 2 bathrooms; Current leases extend through August 2027; RM‑2 zoning, with future use subject to City of Boulder approval
