Lakewood Multifamily Property for
For Sale
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7515 W 8th Pl, Lakewood, CO 80214
Multifamily property with twenty 2-bedroom units in Lakewood, Colorado.
Property Size15,455 SF
Price / SF$207.05
Days on Market191
Property Features for 7515 W 8th Pl
General Information
Standard status
Active
Size
15,455 SF
Property subtype
Multifamily
Net Operating Income
$243,712
Building Details
Year Built
1960
Buildings
3
Stories
1
Units
20
Listing Agency:
Pinnacle Real Estate Advisors
(303) 962-9555
Listed By:
Josh Newell · License #CO FA100001439
Source:
Crexi
Added: Feb 3
Changed: Aug 8
Last Checked: Aug 8 at 2:41PM
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 Pinnacle Real Estate Advisors
Investment Insights
Based on property information with market context.
This multifamily property, located in Lakewood, Colorado, features twenty units, each with 2 bedrooms and 1 bath. The property consists of three single-story buildings. Each unit is individually metered for gas and electric and has front and rear entrances. The property has a size of 15455 square feet and delivers a 6.81% Current CAP. The property can be purchased individually or as a portfolio with another property, offering the opportunity to build scale in a desirable location.
Key Highlights
- Strong, consistent tenant demand ensures reliable income stream.
- Current CAP rate of 6.81% indicates strong investment potential.
- Property consists of (20) 2‑bedroom, 1‑bath units, a highly desirable configuration.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$196,560
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,931,200
$3.9M
Cap Rate 7%
$2,808,000
$2.8M
Cap Rate 9%
$2,184,000
$2.2M
Market Conditions
NOI Build-Up for 15,455 SF
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.
Gross rent
$380.2K $24.60/SF
− Vacancy
−$22.8K −$1.48/SF
EGI
$357.4K $23.12/SF
− OpEx
−$160.8K −$10.41/SF
NOI
$196.6K $12.72/SF
Area
Lakewood, CO
Vacancy
6.00%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,931,200
Cap Rate 7%
$2,808,000
Cap Rate 9%
$2,184,000
Alternative Uses
Best Use
Apartment 5plus
$2.81M
$2.46M – $3.28M
NOI $196,560 @ 7.0% cap · market cap 6.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.63M
$4.05M – $5.40M
NOI $324,036 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
473
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 - Multifamily property with twenty 2-bedroom units in Lakewood, Colorado.
Where is this apartment building located?
The property is located at 7515 W 8th Pl Lakewood, CO.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Strong, consistent tenant demand ensures reliable income stream.; Current CAP rate of 6.81% indicates strong investment potential.; Property consists of (20) 2‑bedroom, 1‑bath units, a highly desirable configuration.
