Turnkey Triplex Income
For Sale
$825,000
9030 Elm Ct, Denver, CO 80260
Well-maintained triplex with two duplex units and a separate home, featuring fenced yards, central air, and a six-space parking lot.
Property Size2,769 SF
Days on Market52
Property Features for 9030 Elm Ct
General Information
Standard status
Active
Size
2,769 SF
Total Parking Spaces
6
Property subtype
Investment
Occupancy
100%
Lease Term
Call to inquire
Additional Details
Business Included
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,293
Building Details
Building Size
2,769 SF
Year Built
1963
Tenancy
Multi
Listing Agency:
(720) 575-6100
Listed By:
Laura Baron · License #7825838
(720) 575-6100
Source:
Elliman
Added: Jul 11
Changed: Aug 15
Last Checked: Aug 29 at 11:16AM
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 Laura Baron
Investment Insights
Based on property information with market context.
This fully occupied triplex offers a duplex configuration plus a detached single-family home on one property. The duplex includes units 1950-1 and 1950-2, and there is a separate home at 9030 Elm Ct. Both duplex units provide 2 bedrooms and 1 bathroom, with central air conditioning, forced-air heat, newer windows, private fenced yards, and a shared front yard. A coin-operated laundry room is shared between the duplex units. The duplex unit 1950-1 has been fully remodeled, while unit 1950-2 has updates within the last decade, including an upgraded kitchen with modern cabinetry, tile, and stainless steel appliances, along with an updated bathroom.
The detached home at 9030 Elm Ct also offers 2 bedrooms and 1 bathroom, with central air and forced-air heat, newer windows, and updated interior finishes including a newer kitchen, remodeled bathroom, and updated flooring. The detached residence includes a private yard plus a patio and gazebo.
On-site parking is available in a six-space lot, with two dedicated parking spaces per unit. Current owner income and expense statements for recent years are available upon request, and showings are coordinated through the listing agent’s office only, with tenants not to be disturbed.
The detached home at 9030 Elm Ct also offers 2 bedrooms and 1 bathroom, with central air and forced-air heat, newer windows, and updated interior finishes including a newer kitchen, remodeled bathroom, and updated flooring. The detached residence includes a private yard plus a patio and gazebo.
On-site parking is available in a six-space lot, with two dedicated parking spaces per unit. Current owner income and expense statements for recent years are available upon request, and showings are coordinated through the listing agent’s office only, with tenants not to be disturbed.
Key Highlights
- Triplex built in 1963: a duplex at 1950‑1 & 1950‑2 plus a separate single‑family home at 9030 Elm on one property
- All units have 2 bedrooms and 1 bathroom, with central air and forced‑air heat
- 1950‑1 was completely remodeled with high‑end finishes; 1950‑2 has been significantly updated within the last decade
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
$46,017
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
5.58%
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%
$920,340
$920.3K
Cap Rate 7%
$657,386
$657.4K
Cap Rate 9%
$511,300
$511.3K
Market Conditions
NOI Build-Up for 2,769 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
$69.8K $25.20/SF
− Vacancy
−$4.0K −$1.46/SF
EGI
$65.7K $23.74/SF
− OpEx
−$19.7K −$7.12/SF
NOI
$46.0K $16.62/SF
Area
Denver, CO
Vacancy
5.79%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$920,340
Cap Rate 7%
$657,386
Cap Rate 9%
$511,300
Alternative Uses
Best Use
Multifamily LT 5
$657.4K
$575.2K – $767.0K
NOI $46,017 @ 7.0% cap · market cap 5.58%
Second Best
Apartment 5plus
$600.6K
$525.5K – $700.7K
NOI $42,043 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$881.5K
$771.3K – $1.03M
NOI $61,703 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
529
Businesses Nearby
Explore this area
Business Placement
Demographics for 80260, CO
36,691
Population
12,841
Households
2.9
Avg Household Size
33
Median Age
14%
College-Educated
74%
High-School Grad
4.8 sq mi
ZIP Area
7,644
Density / Sq Mi
$62,929
Median Household Income
$38,674
Median Earnings
$1,532
Median Rent
$188,200
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?
Triplex - Well-maintained triplex with two duplex units and a separate home, featuring fenced yards, central air, and a six-space parking lot.
Where is this triplex located?
The property is located at 9030 Elm Ct Denver, CO.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Triplex built in 1963: a duplex at 1950‑1 & 1950‑2 plus a separate single‑family home at 9030 Elm on one property; All units have 2 bedrooms and 1 bathroom, with central air and forced‑air heat; 1950‑1 was completely remodeled with high‑end finishes; 1950‑2 has been significantly updated within the last decade
