Multifamily Property for Sale in Denver, CO

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Denver, CO 80222

Description

2397 S Locust St is a fully renovated, turnkey 4-unit investment in the supply-constrained Virginia Village submarket, offering durable cash flow with minimal near-term capex. The property features modernized interiors that compete with newer products and support strong tenant demand, while in-place rents provide continued upside through organic lease roll without heavy repositioning. Centrally located between Downtown Denver and the Denver Tech Center, the asset benefits from strong commuter appeal, affluent demographics, and a widening rent-versus-own gap that reinforces long-term renter demand. Scarce small-bay competition, combined with optional operational upside through expense optimization, positions the property for stable occupancy, NOI growth, and long-term appreciation. Investment Highlights: • Fully renovated 4-unit asset with modern finishes, minimizing near-term capex and delivering stable, low-maintenance cash flow from day one. • Central infill location between Downtown Denver and DTC, supporting consistent occupancy and rent growth driven by commuter convenience. • Rent vs. own gap supports durable tenant demand, reinforcing occupancy stability and consistent income performance.

Market Context

This multifamily in Denver, CO is listed for sale. It is offered at an approximate 5.9% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 53 days. Compare it against other multifamily listings for sale in Denver, CO — <a href="/search/sale/multifamily/colorado/denver">view the full market</a>.

As of Q4 2025, the Denver multifamily market showed cap rates around 5.3%. Source: Consensus Q4 2025 market report.

Its 5.9% asking cap rate is above the Denver multifamily market average of about 5.3%, implying a higher yield (and typically more risk or upside) than comparable assets.

Multifamily market FAQ

What is the typical cap rate for multifamily in Denver?
About 5.3% as of Q4 2025, per Consensus.

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