7005-7035 W 16th Place Lakewood, CO 80215
Twelve side-by-side 1-bed condos with front and back doors and nearly 2:1 off-street parking.
Property Features for 7005-7035 W 16th Place
General Information
- Standard status
- Active
- Size
- 7,392 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1952
Listing office NORTHPEAK Commercial Advisors
Listing date Jun 3, 2026
Source Crexi
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All listing content including descriptions, pricing, images are the copyrighted material of NORTHPEAK Commercial Advisors
Investment Insights
Based on property information with market context.
The building is located at 7005–7035 W 16th Place in Lakewood, Colorado. The area described in the remarks includes new development moving west from Sloan’s Lake and walkable access to the Wadsworth Light Rail Station.
For an investor or owner-operator seeking a turnkey multifamily condo asset, the combination of unit layout, parking availability, and documented capital improvements helps reduce near-term maintenance concerns. The property’s recent upgrades and maintained site features can also support consistent presentation for leasing and ongoing occupancy.
Key Highlights
- 12 premium condos (side‑by‑side 1BD/1BA units) built in 1952
- Each unit has side‑by‑side layout with front and back doors
- Nearly 2:1 off‑street parking ratio for the complex
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 | $181.8k | $24.60 |
| − Vacancy | −$10.9k | −$1.48 |
| EGI | $170.9k | $23.12 |
| − OpEx | −$76.9k | −$10.41 |
| NOI | $94.0k | $12.72 |
