Westminster Multifamily Investment
8803 Circle Drive, Westminster, CO 80031
Well-maintained, fully leased 6-unit property with value-add potential.
Property size:
4,722 SFLot size:
0.25 AcresPrice / SF:
$253/SF- Added:
- Mar 23, 2026
- Days on Market:
- 71
- Last Refresh:
- Mar 23 at 8:12 pm
Property Features for 8803 Circle Drive
General Information
- Standard status
- Active
- Size
- 4,722 SF
- Lot size
- 0.25 Acres
Building Details
- Year Built
- 1962
Listing agent META HOMES TEAM
Listing office REAL BROKER, LLC DBA REAL (720) 807-2890
Listing date Mar 23, 2026
Source Corcoran
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 REAL BROKER, LLC DBA REAL
HighLights
- Strong in‑place income of $101,760 annually with potential to increase to $108,960 through unit upgrades.
- Fully leased 6‑unit multifamily property in a central Westminster location.
- Value‑add potential through renovation of remaining units to increase rents.
- Recent exterior improvements including a new roof, fresh paint, and updated siding, minimizing near‑term capital expenditure.
- Updated units feature modern kitchens, updated bathrooms, and new flooring.
- Convenient access to US‑36, I‑25, Boulder, and Downtown Denver, attracting strong tenant demand.
Overview
This well-maintained 6-unit multifamily property is located in central Westminster. The property is fully leased and benefits from consistent rental demand due to its central location with easy access to both Denver and Boulder employment corridors. The unit mix includes two updated 2-bedroom units and one updated 1-bedroom unit, featuring modern kitchens, updated bathrooms, and new flooring. Remaining units provide value-add potential through future renovation, allowing investors to increase rents and improve overall asset performance. Recent exterior improvements include a new roof, fresh exterior paint, and updated wood accent siding, enhancing curb appeal while minimizing near-term capital expenditure risk. The property currently generates $101,760 in annual gross income with the potential to increase income to approximately $108,960 through continued unit upgrades and rent adjustments. With convenient access to US-36, I-25, Boulder, and Downtown Denver, the property benefits from strong tenant demand driven by proximity to major employment centers and transportation corridors. This offering presents investors with a stable, fully leased asset with proven rentability and clear value-add potential through interior renovations and rent optimization. The property size is 4722 square feet.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $118.4k | $25.08 |
| − Vacancy | −$8.1k | −$1.71 |
| EGI | $110.4k | $23.37 |
| − OpEx | −$49.7k | −$10.52 |
| NOI | $60.7k | $12.86 |
4,722 SF · lease $25.08/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$867.2K
$758.8K – $1.01M
NOI $60,706 @ 7.0% cap · market cap 5.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,612 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Westminster
- County
- Adams
- State
- Colorado
- Longitude
- -105.0389092
- Latitude
- 39.8565884
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Well-maintained, fully leased 6-unit property with value-add potential.
Where is this apartment building located?
The property is located at 8803 Circle Drive Westminster, CO.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Strong in‑place income of $101,760 annually with potential to increase to $108,960 through unit upgrades.; Fully leased 6‑unit multifamily property in a central Westminster location.; Value‑add potential through renovation of remaining units to increase rents.
