5410 W 3rd Pl, Denver, CO 80226
- $825,000
- 8
- BD
- 4
- BA
- 3,000
- SqFt
- List Price
- $825,000
- Status
- ACTIVE
- MLS#
- 7782631
- Year Built
- 1962
- Bedrooms
- 8
- Bathrooms
- 4
- Living Area
- 3,000
- Region
- Metro Denver
- Subdivision
- Neagle Addition
Property Description
5410 W 3rd Pl is a stabilized four-unit multifamily property in Lakewood, Colorado, offering immediate cash flow and strong rent growth potential. The asset is priced at a 5.36% current cap rate with projected expansion to 6.68% in Year One, driven by rent normalization rather than renovations. Current NOI of $44,213 is projected to increase to $55,092, representing approximately 25% growth through loss-to-lease burnoff. The property features a 100% two-bedroom unit mix with average rents of $1,300 compared to modeled market rents of $1,600, providing a clear path to increased revenue. Located in a mature West Denver rental corridor with strong commuter access and limited multifamily supply, the property offers stable income, near-term yield growth, and long-term appreciation potential.
Additional Information
- Taxes
- $5,084
- School District
- Jefferson Dist R-1
- Elementary School
- Deane
- Middle School
- Alameda Int'l
- High School
- Jefferson
- Heating
- Forced Air
- Garage Spaces
- 6
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Listing courtesy of Charles Burkhart.
charles.burkhart@marcusmillichap.com,214-336-6064
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