30-Unit Multifamily
980 S Dexter St, Denver, CO 80246
For Sale
$4,500,000
Residential Income, Denver, CO
Property Size19,262 SF
Lot Size0.32 Acres
Price / SF$233.62
Days on Market33
Property Features for 980 S Dexter St
General Information
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Zoning
Bedrooms
Bathrooms
Full bathrooms
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Parking
Window features
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Elementary school
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High school district
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Size
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Additional Details
Tenant in Place
Taxes and HOA fees
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Sewer type
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Building Details
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Floors in Building
Number of units
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Listing Agency:
Folsom & Co. Real Estate
(303) 499-9944
Listed By:
Andy Hawk
(303) 641-0695
Added: Oct 12
Changed: Oct 25
Last Checked: Nov 13 at 7:06PM
MLS# 1070446
Copyright © 2026 IRES MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 30-unit multifamily property contains 19,262 square feet across two adjoining parcels totaling 0.32 acres. Built in 1974, the building has received updates during the current ownership period. Approximately two-thirds of the units include some combination of furniture, utilities, and parking as part of the base rent, and leases are offered with flexible terms.
The adjoining parcel at 970 S. Dexter Street provides surface parking and site infrastructure rather than income-producing building improvements. The property is offered as a single two-parcel assemblage. Both parcels are in Denver, and the 2024 citywide parking reform eliminated minimum off-street parking requirements in many mixed-use districts.
The adjoining parcel at 970 S. Dexter Street provides surface parking and site infrastructure rather than income-producing building improvements. The property is offered as a single two-parcel assemblage. Both parcels are in Denver, and the 2024 citywide parking reform eliminated minimum off-street parking requirements in many mixed-use districts.
Key Highlights
- 30‑unit multifamily property with 19,262 square feet
- Two adjoining parcels totaling 0.32 acres, offered together
- Built in 1974; updates made during current ownership
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$292,467
Cap Rate
6.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,849,340
$5.8M
Cap Rate 7%
$4,178,100
$4.2M
Cap Rate 9%
$3,249,633
$3.2M
Market Conditions
NOI Build-Up for 19,262 SF
Gross rent
$566.3K $29.40/SF
− Vacancy
−$34.5K −$1.79/SF
EGI
$531.8K $27.61/SF
− OpEx
−$239.3K −$12.42/SF
NOI
$292.5K $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 Rate 5%
$5,849,340
Cap Rate 7%
$4,178,100
Cap Rate 9%
$3,249,633
Alternative Uses
Best Use
Apartment 5plus
$4.18M
$3.66M – $4.87M
NOI $292,467 @ 7.0% cap · market cap 6.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.13M
$5.37M – $7.15M
NOI $429,225 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
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Who owns this building?
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Lease Details
30
Residential units
Location Intelligence
Trade Area within ½ mile
3,612
Businesses Nearby
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Business Placement
Demographics for 80246, CO
13,265
Population
8,148
Households
1.6
Avg Household Size
32
Median Age
59%
College-Educated
96%
High-School Grad
1.7 sq mi
ZIP Area
7,803
Density / Sq Mi
$66,503
Median Household Income
$47,870
Median Earnings
$1,661
Median Rent
$659,700
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Denver, CO
Properties on Market for Apartment buildings in Denver
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - A furnished leasing option and flexible rental terms distinguish this multifamily property.
Where is this apartment building located?
The property is located at 980 S Dexter St Denver, CO.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 30‑unit multifamily property with 19,262 square feet; Two adjoining parcels totaling 0.32 acres, offered together; Built in 1974; updates made during current ownership
