Six-Unit Cottage Apartment
For Sale
$1,100,000
7721 East 14th Avenue, Denver, CO 80220
Renovated side-by-side residences with detached garages and a level corner-lot setting in Denver.
Property Size3,090 SF
Lot Size0.35 Acres
Price / SF$355.99
Days on Market89
Property Features for 7721 East 14th Avenue
General Information
Standard status
Active
Size
3,090 SF
Total Parking Spaces
3
Lot size
0.35 Acres
Property subtype
Residential Income
Zoning
E-TU-B
Additional Details
Cap Rate
7.35%
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$5,401
Amenities
Radiant
356
3090
Public Records
Building Details
Year Built
1948
Construction
cottage-style
Listing Agency:
Marcus & Millichap Real Estate Investment Services of Atlanta, Inc.
Listed By:
Charles Burkhart · License #100103787
(214) 336-6064
Source:
Compass
Added: Jul 1
Changed: Sep 26
Last Checked: Sep 26 at 11:30AM
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.
Built in 1948, this six-unit apartment property at 7721 East 14th Avenue features fully renovated, side-by-side cottage-style residences on a 0.35-acre level corner lot. The layout gives each residence a separate-home feel, while detached garages are leased independently and provide an additional income component. The property is zoned E-TU-B and includes 3,090 square feet of building area.
Current operations reflect a 7.35% Day One Cap Rate, with a stated 7.89% Year One Cap Rate. The side-by-side configuration also supports consideration of a future condominium conversion. Located in Denver’s East Denver submarket, the property is served by Denver 1 schools, including Montclair Elementary, Hill Middle School, and George Washington High School.
Current operations reflect a 7.35% Day One Cap Rate, with a stated 7.89% Year One Cap Rate. The side-by-side configuration also supports consideration of a future condominium conversion. Located in Denver’s East Denver submarket, the property is served by Denver 1 schools, including Montclair Elementary, Hill Middle School, and George Washington High School.
Key Highlights
- Six fully renovated side‑by‑side residences
- 0.35‑acre level corner lot at 7721 East 14th Avenue
- Detached garages leased separately from the residences
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
4.27%
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 4.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$983.7K
$860.7K – $1.15M
NOI $68,856 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
10,682
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 - Renovated side-by-side residences with detached garages and a level corner-lot setting in Denver.
Where is this apartment building located?
The property is located at 7721 East 14th Avenue Denver, CO.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Six fully renovated side‑by‑side residences; 0.35‑acre level corner lot at 7721 East 14th Avenue; Detached garages leased separately from the residences
