Renovated Student Housing Near
For Sale
Contact for pricing
Pending
2455 S Gaylord St, Denver, CO 80210
10-unit renovated student housing community near the University of Denver.
Property Size8,639 SF
Lot Size0.29 Acres
Days on Market672
Property Features for 2455 S Gaylord St
General Information
Standard status
Pending
Size
8,639 SF
Lot size
0.29 Acres
Property subtype
Multifamily
Net Operating Income
$200,347
Building Details
Year Built
1968
Buildings
1
Stories
3
Units
10
Listing Agency:
Unique Properties, Inc
(214) 616-2695
Listed By:
Elliott Polanchyck · License #CO
Source:
Crexi
Added: Oct 30, 2024
Changed: Aug 24
Last Checked: Aug 31 at 9:55AM
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 Unique Properties, Inc
Investment Insights
Based on property information with market context.
Steel Rose is a renovated, 10-unit student housing community located in Denver, CO, within walking distance of the University of Denver. Constructed in 1968, the three-level, garden-style brick building is situated on 0.29 acres. The property features spacious two-, three-, and four-bedroom units. Select amenities include stainless-steel appliances, ceiling fans, and high-speed internet access. On-site laundry facilities are available, along with 6 off-street parking spaces. Capital improvements include new flooring, cabinets, countertops, bathrooms, and hardware. The property also features professional landscaping with open green spaces and mature shade trees. The property size is 8639 square feet.
Key Highlights
- Walking distance to the University of Denver
- Renovated units with new flooring, cabinets, countertops, bathrooms, and hardware
- 10‑unit student housing community
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
$131,171
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
3.20%
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%
$2,623,420
$2.6M
Cap Rate 7%
$1,873,871
$1.9M
Cap Rate 9%
$1,457,456
$1.5M
Market Conditions
NOI Build-Up for 8,639 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
$254.0K $29.40/SF
− Vacancy
−$15.5K −$1.79/SF
EGI
$238.5K $27.61/SF
− OpEx
−$107.3K −$12.42/SF
NOI
$131.2K $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%
$2,623,420
Cap Rate 7%
$1,873,871
Cap Rate 9%
$1,457,456
Alternative Uses
Best Use
Apartment 5plus
$1.87M
$1.64M – $2.19M
NOI $131,171 @ 7.0% cap · market cap 3.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.75M
$2.41M – $3.21M
NOI $192,507 @ 7.0% cap · market cap 4.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,085
Businesses Nearby
Explore this area
Business Placement
Demographics for 80210, CO
39,394
Population
18,496
Households
2.1
Avg Household Size
33
Median Age
76%
College-Educated
99%
High-School Grad
6.1 sq mi
ZIP Area
6,458
Density / Sq Mi
$120,156
Median Household Income
$61,607
Median Earnings
$1,963
Median Rent
$870,500
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 - 10-unit renovated student housing community near the University of Denver.
Where is this apartment building located?
The property is located at 2455 S Gaylord St Denver, CO.
What is the asking price?
The asking price for this property is $4,100,000.
What are key features of this property?
This property features: Walking distance to the University of Denver; Renovated units with new flooring, cabinets, countertops, bathrooms, and hardware; 10‑unit student housing community
