Lakewood Quadplex Investment
For Sale
$875,000
7120 W 16th Place, Lakewood, CO 80214
Updated Lakewood quadplex with income potential and move-in ready units.
Property Size2,850 SF
Days on Market200
Property Features for 7120 W 16th Place
General Information
Standard status
Active
Size
2,850 SF
Property subtype
Quadruplex
Building Details
Building Size
2,850 SF
Year Built
1954
Listing Agency:
West and Main Homes Inc
Listed By:
Scot Conti
(303) 725-3786
Source:
Anderson-alliance.kw
Added: Mar 25
Changed: Sep 30
Last Checked: Oct 9 at 4:46PM
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 West and Main Homes Inc
Investment Insights
Based on property information with market context.
Located in Lakewood's Grand View Acres, this brick quadplex constructed in 1954 presents a rare investment opportunity. The property comprises four units, each featuring two bedrooms and one bathroom. Two units are currently under fixed-term leases, providing immediate income. The vacant units are move-in ready, suitable for an owner-occupant or investor. Three of the four units underwent extensive updates in 2026. Two units received new carpet, vinyl flooring, and fresh paint, while one unit was fully renovated with a new kitchen, bathroom, stainless steel appliances, vinyl flooring, carpet, lighting, and paint. A new water heater was installed in 2025. The property includes a spacious fenced yard, two private one-car garages, and dedicated off-street parking for the remaining two units. The location provides convenient access to parks, trails, shopping, dining, and other amenities in Lakewood and Denver. The property offers durable interiors and tenant appeal.
Key Highlights
- Immediate income generation from two units with existing fixed‑term leases.
- Opportunity for owner‑occupancy with potential for rental income from remaining three units.
- Three of four units extensively updated, including one fully renovated unit with new kitchen, bathroom, and stainless steel appliances.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,410
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$828,200
$828.2K
Cap Rate 7%
$591,571
$591.6K
Cap Rate 9%
$460,111
$460.1K
Market Conditions
NOI Build-Up for 2,850 SF
Gross rent
$63.3K $22.20/SF
− Vacancy
−$4.1K −$1.44/SF
EGI
$59.2K $20.76/SF
− OpEx
−$17.7K −$6.23/SF
NOI
$41.4K $14.53/SF
Area
Lakewood, CO
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$828,200
Cap Rate 7%
$591,571
Cap Rate 9%
$460,111
Alternative Uses
Best Use
Multifamily LT 5
$591.6K
$517.6K – $690.2K
NOI $41,410 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$517.8K
$453.1K – $604.1K
NOI $36,247 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$853.6K
$746.9K – $995.9K
NOI $59,754 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
421
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Updated Lakewood quadplex with income potential and move-in ready units.
Where is this quadplex located?
The property is located at 7120 W 16th Place Lakewood, CO.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Immediate income generation from two units with existing fixed‑term leases.; Opportunity for owner‑occupancy with potential for rental income from remaining three units.; Three of four units extensively updated, including one fully renovated unit with new kitchen, bathroom, and stainless steel appliances.
