Can co-ops/condos depreciation be tax-deducted?

I have read literature that a single family house (house part excluding land) can be depreciated every year. Can similar thing be done for a co-op or a condo? Let's say for a 500k property, it comes out to be quite a bit. For a house, the house could be said to have a useful life of 28 years, and if the house is 80% of the property value (land being 20%), you could deduct 100%/28= 3.5% yearly. 500k * 80% * 3.5% = 14k deduction, for a tax bracket of 30% that's a 4k plus of refund a year. Should something similar hold true for a co-op/condo unit? I might be completely wrong, as I am just reading it off a book. Advice would be highly appreciated!