Prime 4-Unit Townhome Investment Opportunity
Multifamily gem in the heart of Thornton! These well-maintained 4-units within the Thornton Ridge townhome complex offers a balanced mix of spacious layouts and strong rental performance, ideal for both seasoned investors and newcomers seeking reliable cash flow.
Property Breakdown:
4 units: 2 bed / 1.5 bath townhomes
Current rents: $2,100-$2,400 per month
Cap rate: 5-6%, with potential upside through light updates and rent optimization
Strong rental history: Consistent occupancy and long-term tenants. Seller can provide full rental history and detailed income documentation
Each home features comfortable living spaces, well maintained finishes in varying levels of updates, and private outdoor areas.
Whether you’re looking to expand your portfolio or enter the Denver metro multifamily market, this portfolio offers immediate cash flow, proven stability, and future growth potential.
Current Rents: $2,100-$2,400/month
Cap Rate: 5-6%
Financials: Full rent roll and income verification available upon request
For sale
$1,950,000
3991 E 121st Avenue, Thornton, CO 80241
2beds
2baths
1,884sqft
:
Get pre-qualified$12,333/mo
Quadruplex
Built in 1997
-- sqft lot
$-- Zestimate®
$1,035/sqft
$245/mo HOA
What's special
- 161 days |
- 158 |
- 2 |
Zillow last checked:
Listing updated:
Listed by:
Kayla Schmitz 303-249-4118 kayla.schmitz@compass.com,
Compass - Denver
Source: REcolorado as distributed by MLS GRID,MLS#: 4732768
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 2
Heating
- Forced Air
Cooling
- Central Air
Appliances
- Laundry: In Unit
Features
- Basement: Unfinished
- Common walls with other units/homes: 2+ Common Walls
Interior area
- Total structure area: 1,884
- Total interior livable area: 1,884 sqft
- Finished area above ground: 1,244
- Finished area below ground: 0
Property
Parking
- Total spaces: 1
- Parking features: Garage - Attached
- Attached garage spaces: 1
Features
- Levels: Two
- Stories: 2
- Patio & porch: Deck
Details
- Parcel number: R0026161
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex
- Attached to another structure: Yes
Materials
- Frame
- Roof: Composition
Condition
- Year built: 1997
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Subdivision: Thornton Ridge Filing
HOA
- Has HOA: Yes
- HOA fee: $245 monthly
- HOA name: Thornton Ridge Townhomes
- HOA phone: 970-481-9574
Location
- Region: Thornton
Financial & listing details
- Price per square foot: $1,035/sqft
- Tax assessed value: $386,000
- Annual tax amount: $2,438
- Date on market: 2/11/2026
- Listing terms: 1031 Exchange,Cash,Other
- Exclusions: Tenant And Seller Personal Property
- Ownership: Corporation/Trust
Estimated market value
Not available
Estimated sales range
Not available
$2,126/mo
Price history
| Date | Event | Price |
|---|---|---|
| 3/18/2026 | Price change | $1,950,000-16.7%$1,035/sqft |
Source:  REcolorado as distributed by MLS GRID #4732768 Report a problem | ||
| 2/11/2026 | Listed for sale | $2,340,000$1,242/sqft |
Source: REcolorado as distributed by MLS GRID #4732768 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,438 +1% | $24,130 -11.5% |
| 2024 | $2,413 +8.2% | $27,270 |
| 2023 | $2,230 -3.2% | $27,270 +34.7% |
| 2022 | $2,304 | $20,240 -2.8% |
| 2021 | -- | $20,820 +3.8% |
| 2020 | $2,227 | $20,050 0% |
| 2019 | $2,227 +15.2% | $20,060 +19.4% |
| 2018 | $1,933 | $16,800 |
| 2017 | $1,933 | $16,800 +29.7% |
| 2016 | -- | $12,950 -8% |
| 2015 | $1,392 | $14,070 +77.9% |
| 2014 | -- | $7,910 |
| 2013 | -- | $7,910 -10.7% |
| 2012 | -- | $8,860 |
| 2011 | -- | $8,860 -22.7% |
| 2010 | -- | $11,460 |
| 2009 | -- | $11,460 -8.5% |
| 2008 | -- | $12,520 |
| 2007 | -- | $12,520 +1.1% |
| 2006 | -- | $12,380 |
| 2005 | -- | $12,380 -1.6% |
| 2004 | -- | $12,580 -11.3% |
| 2003 | $1,208 +2.2% | $14,190 +20.3% |
| 2002 | $1,182 +8% | $11,800 +13.8% |
| 2001 | $1,095 | $10,370 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 80241
Nearby schools
GreatSchools rating
- 6/10Stellar Elementary SchoolGrades: K-5Distance: 0.4 mi
- 4/10Century Middle SchoolGrades: 6-8Distance: 1.7 mi
- 6/10Mountain Range High SchoolGrades: 9-12Distance: 2.9 mi
Schools provided by the listing agent
- Elementary: Stellar
- Middle: Century
- High: Mountain Range
- District: Adams 12 5 Star Schl
Source: REcolorado as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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A local agent can set up tours, give advice and negotiate with sellers.
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