Multifamily Condo-Conversion
9945-9955 W 59th Place Arvada, CO 80004
New
For Sale
$1,500,000
Individually deeded units with recent roof, window, and boiler upgrades, offering a basis for condo conversion.
Days on Market5
Property Features for 9945-9955 W 59th Place
General Information
Standard status
Active
Property subtype
Commercial
Building Details
Year Built
1958
Listing Agency:
Pinnacle Real Estate Advisors
(303) 962-9559
Listed By:
Josh Newell · License #FA100001439
(303) 962-9559
Source:
Coloradopartners
Added: Jul 25
Changed: Jul 26
Last Checked: Jul 28 at 7:01PM
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 Pinnacle Real Estate Advisors
Investment Insights
Based on property information with market context.
This multifamily property features individually deeded units, supported by recent capital improvements including roof, windows, boiler, and hot water heaters, with the majority of units reported as renovated. The tenant mix is described as consisting of large 2-bedroom and 3-bedroom units.
Located in Arvada, Colorado, the property is listed as about one mile to the Arvada Ridge Light Rail Station, with walkable access to parks, restaurants, retail, public transportation, and places of employment. The remarks also note quick access to Kipling Parkway, I-70, Downtown Denver, and the Rocky Mountains.
The offering is presented as priced below comparable properties, aligning with the stated condo conversion opportunity for the individually deeded unit structure.
Located in Arvada, Colorado, the property is listed as about one mile to the Arvada Ridge Light Rail Station, with walkable access to parks, restaurants, retail, public transportation, and places of employment. The remarks also note quick access to Kipling Parkway, I-70, Downtown Denver, and the Rocky Mountains.
The offering is presented as priced below comparable properties, aligning with the stated condo conversion opportunity for the individually deeded unit structure.
Key Highlights
- Year built: 1958
- Individually deeded units with a condo conversion opportunity
- Recent capital improvements include roof and windows, plus boiler upgrades
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 | $168.4k | $23.28 |
| − Vacancy | −$12.6k | −$1.75 |
| EGI | $155.7k | $21.53 |
| − OpEx | −$70.1k | −$9.69 |
| NOI | $85.7k | $11.84 |
7,232 SF · lease $23.28/SF/yr · vacancy 7.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.22M
$1.07M – $1.43M
NOI $85,654 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.93M
$1.69M – $2.26M
NOI $135,383 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Individually deeded units with recent roof, window, and boiler upgrades, offering a basis for condo conversion.
Where is this apartment building located?
The property is located at 9945-9955 W 59th Place Arvada, CO.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Year built: 1958; Individually deeded units with a condo conversion opportunity; Recent capital improvements include roof and windows, plus boiler upgrades
