Four-Unit Apartment Building with Rear
New
For Sale
$999,990
8410 10th Avenue, Lakewood, CO 80215
Fully remodeled multifamily property with additional rear lot space and east-side alley access.
Property Size3,000 SF
Days on Market4
Property Features for 8410 10th Avenue
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Duplex
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,690
Building Details
Building Size
3,000 SF
Year Built
1947
Buildings
1
Listing Agency:
Keller Williams Advantage Realty LLC
Listed By:
Raul Ochoa · License #036927
(720) 434-0221
Source:
Eliselosassore
Added: Sep 9
Changed: Sep 11
Last Checked: Sep 12 at 7:42AM
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 Keller Williams Advantage Realty LLC
Investment Insights
Based on property information with market context.
Built in 1947, this four-unit multifamily property was comprehensively rebuilt three years ago. The work included a new roof, interior walls, furnace, water heaters, plumbing, sewer line, electrical system, windows, and siding. The building also includes a separate rear area described as an additional rental, with the vacant lot accommodating small trailers used by small businesses.
An alley runs along the east side of the property. The property is in Lakewood near Belmar and approximately 10 minutes from downtown Denver, providing access to both local amenities and the Denver urban core. The asset is suited to continued multifamily use with an additional rear lot component.
An alley runs along the east side of the property. The property is in Lakewood near Belmar and approximately 10 minutes from downtown Denver, providing access to both local amenities and the Denver urban core. The asset is suited to continued multifamily use with an additional rear lot component.
Key Highlights
- Four‑unit multifamily building
- Comprehensively rebuilt three years ago
- New roof, furnace, water heaters, plumbing, sewer line, electrical, windows, and siding
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
$38,155
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
3.82%
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%
$763,100
$763.1K
Cap Rate 7%
$545,071
$545.1K
Cap Rate 9%
$423,944
$423.9K
Market Conditions
NOI Build-Up for 3,000 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
$73.8K $24.60/SF
− Vacancy
−$4.4K −$1.48/SF
EGI
$69.4K $23.12/SF
− OpEx
−$31.2K −$10.41/SF
NOI
$38.2K $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%
$763,100
Cap Rate 7%
$545,071
Cap Rate 9%
$423,944
Alternative Uses
Best Use
Apartment 5plus
$545.1K
$476.9K – $635.9K
NOI $38,155 @ 7.0% cap · market cap 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$898.6K
$786.2K – $1.05M
NOI $62,899 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
665
Businesses Nearby
Explore this area
Business Placement
Demographics for 80215, CO
19,908
Population
9,156
Households
2.2
Avg Household Size
42
Median Age
49%
College-Educated
97%
High-School Grad
5.5 sq mi
ZIP Area
3,620
Density / Sq Mi
$85,017
Median Household Income
$49,100
Median Earnings
$1,728
Median Rent
$615,500
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?
Apartment building - Fully remodeled multifamily property with additional rear lot space and east-side alley access.
Where is this apartment building located?
The property is located at 8410 10th Avenue Lakewood, CO.
What is the asking price?
The asking price for this property is $999,990.
What are key features of this property?
This property features: Four‑unit multifamily building; Comprehensively rebuilt three years ago; New roof, furnace, water heaters, plumbing, sewer line, electrical, windows, and siding
