Six-Unit Cottage-Style
For Sale
$1,125,000
7721 E 14th Avenue, Denver, CO 80220
Turnkey six-unit side-by-side residences on a prominent corner lot, with detached garages leased separately.
Property Size3,090 SF
Lot Size0.35 Acres
Price / SF$364.08
Days on Market34
Property Features for 7721 E 14th Avenue
General Information
Standard status
Active
Size
3,090 SF
Lot size
0.35 Acres
Property subtype
Quadruplex
Additional Details
Cap Rate
7.35%
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$5,401
Building Details
Building Size
3,090 SF
Year Built
1948
Construction
cottage-style
Listing Agency:
Marcus & Millichap Real Estate Investment Services of Atlanta, Inc.
Listed By:
Charles Burkhart · License #FA.100070708
Source:
Zencasarealty
Added: Jul 22
Changed: Aug 23
Last Checked: Aug 24 at 2:50PM
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 Marcus & Millichap Real Estate Investment Services of Atlanta, Inc.
Investment Insights
Based on property information with market context.
7721 E 14th Ave is a turnkey, cottage-style multifamily property consisting of six fully renovated, side-by-side residences. The configuration is designed to deliver a single-family feel while maintaining the operational efficiencies of multifamily ownership. In addition, each home is complemented by a detached garage that is leased separately, creating an additional income stream.
The property is located in the East Denver submarket and sits on a prominent corner lot. The differentiated product and in-place improvements support straightforward operations for an owner seeking a ready-to-rent asset.
Beyond current income, the side-by-side layout presents options for a future condominium conversion or long-term redevelopment, offering multiple paths to create value. The property is offered for sale as a six-unit income-producing investment.
The property is located in the East Denver submarket and sits on a prominent corner lot. The differentiated product and in-place improvements support straightforward operations for an owner seeking a ready-to-rent asset.
Beyond current income, the side-by-side layout presents options for a future condominium conversion or long-term redevelopment, offering multiple paths to create value. The property is offered for sale as a six-unit income-producing investment.
Key Highlights
- 6‑unit cottage‑style multifamily property built in 1948 on a 0.35‑acre corner lot
- All six residences are fully renovated with a side‑by‑side layout
- Each unit has access to a detached garage; garages are leased separately for additional income
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
$46,917
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
4.17%
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%
$938,340
$938.3K
Cap Rate 7%
$670,243
$670.2K
Cap Rate 9%
$521,300
$521.3K
Market Conditions
NOI Build-Up for 3,090 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
$90.8K $29.40/SF
− Vacancy
−$5.5K −$1.79/SF
EGI
$85.3K $27.61/SF
− OpEx
−$38.4K −$12.42/SF
NOI
$46.9K $15.18/SF
Area
Denver, CO
Vacancy
6.10%
Lease Rate
$29.40 /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%
$938,340
Cap Rate 7%
$670,243
Cap Rate 9%
$521,300
Alternative Uses
Best Use
Apartment 5plus
$670.2K
$586.5K – $782.0K
NOI $46,917 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$983.7K
$860.7K – $1.15M
NOI $68,856 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
767
Businesses Nearby
Explore this area
Business Placement
Demographics for 80220, CO
37,233
Population
17,675
Households
2.1
Avg Household Size
37
Median Age
66%
College-Educated
94%
High-School Grad
5.2 sq mi
ZIP Area
7,160
Density / Sq Mi
$101,961
Median Household Income
$61,568
Median Earnings
$1,621
Median Rent
$739,600
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 - Turnkey six-unit side-by-side residences on a prominent corner lot, with detached garages leased separately.
Where is this apartment building located?
The property is located at 7721 E 14th Avenue Denver, CO.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: 6‑unit cottage‑style multifamily property built in 1948 on a 0.35‑acre corner lot; All six residences are fully renovated with a side‑by‑side layout; Each unit has access to a detached garage; garages are leased separately for additional income
