Renovated Apartment Income
For Sale
$3,700,000
960 N Pearl Street, Denver, CO 80203
Renovated 1920s apartment building with updated roof, electrical, boiler, windows, and common areas, plus on-site laundry.
Days on Market8
Property Features for 960 N Pearl Street
General Information
Standard status
Active
Property subtype
Commercial
Amenities
on-site laundry
Butterfly controlled entry
reserved parking
Building Details
Building Size
7,607 SF
Year Built
1924
Listing Agency:
NorthPeak Commercial Advisors, LLC
(303) 210-1623
Listed By:
Matthew Lewallen
(303) 210-1623
Source:
Coloradopartners
Added: Jul 25
Changed: Jul 26
Last Checked: Aug 1 at 12:23PM
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 NorthPeak Commercial Advisors, LLC
Investment Insights
Based on property information with market context.
Constructed in the 1920s, this apartment income building features a historic façade and original character elements, with many updates that support long-term use. Reported improvements include a new roof, updated electrical, a new boiler, new windows, updated common areas, landscaping, and concrete steps. The property also notes that all units have been renovated and include oak hardwood floors and exposed brick.
Amenities and conveniences include on-site laundry, controlled entry, and reserved parking. The building is described as providing easy access to nearby restaurants, parks, bars, and shopping.
The overall offering is a renovated residential income property with multiple unit upgrades and building-system improvements.
Amenities and conveniences include on-site laundry, controlled entry, and reserved parking. The building is described as providing easy access to nearby restaurants, parks, bars, and shopping.
The overall offering is a renovated residential income property with multiple unit upgrades and building-system improvements.
Key Highlights
- 1920s apartment building built in 1924 on 960 Pearl Street
- Recent updates include a new roof, updated electrical, new boiler, and new windows
- All units have been renovated, with oak hardwood floors and exposed brick
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 | $223.6k | $29.40 |
| − Vacancy | −$13.6k | −$1.79 |
| EGI | $210.0k | $27.61 |
| − OpEx | −$94.5k | −$12.42 |
| NOI | $115.5k | $15.18 |
7,607 SF · lease $29.40/SF/yr · vacancy 6.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.65M
$1.44M – $1.93M
NOI $115,502 @ 7.0% cap · market cap 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.42M
$2.12M – $2.83M
NOI $169,511 @ 7.0% cap · market cap 4.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,914
Businesses Nearby
Explore this area
Business Placement
Demographics for 80203, CO
22,883
Population
16,887
Households
1.4
Avg Household Size
33
Median Age
69%
College-Educated
97%
High-School Grad
1.1 sq mi
ZIP Area
20,803
Density / Sq Mi
$74,654
Median Household Income
$59,229
Median Earnings
$1,569
Median Rent
$462,500
Median Home Value
Market
Properties on Market for Residential income properties in Denver
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated 1920s apartment building with updated roof, electrical, boiler, windows, and common areas, plus on-site laundry.
Where is this residential income property located?
The property is located at 960 N Pearl Street Denver, CO.
What is the asking price?
The asking price for this property is $3,700,000.
What are key features of this property?
This property features: 1920s apartment building built in 1924 on 960 Pearl Street; Recent updates include a new roof, updated electrical, new boiler, and new windows; All units have been renovated, with oak hardwood floors and exposed brick
