For Sale Multi-Family MLS# 3201174

11852 E 16th Avenue

Aurora, CO 80010

$5,700,000

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About 11852 E 16th Avenue

Marcus & Millichap is pleased to present the Elm Grove Apartments, a 59-unit multifamily property located at 11852 E 16th Avenue in Aurora, Colorado. Built in 1973, the property is situated on approximately 1.03 acres and offers a well-balanced unit mix of three studios and 56 one-bedroom apartments. Studio units average approximately 475 square feet, while one-bedroom units average approximately 600 square feet.

The Elm Grove Apartments benefits from an attractive location immediately surrounding the Fitzsimons medical campus, positioned between the Fitzsimons campus and Stanley Marketplace. The property offers a primarily one-bedroom floorplan mix that caters to the area’s strong demand from medical professionals, students, and other employment bases associated with the Anschutz Medical Campus. Many units have been renovated with modern shaker cabinetry, quartz countertops, hard-surface vinyl flooring, tile showers, updated vanities, and black appliance packages with microwaves and dishwashers. Additionally, approximately two-thirds of the units feature private balconies, while all one-bedroom units offer walk-in closets.

Current ownership has completed approximately $250,000 of capital improvements over the hold period, including the installation of new electrical panels throughout all units, upgrades to stairways, interior corridors, and unit doors, the addition of an outdoor seating area with covered pergolas, and new property signage. These improvements, combined with the extensive unit renovations, have positioned Elm Grove Apartments as a well-maintained asset with meaningful recent capital investment. The property represents an attractive opportunity to acquire a renovated multifamily asset in a highly desirable Aurora location with convenient access to the Fitzsimons medical campus, Stanley Marketplace, and the broader Denver metro area.

Property details

Property

Type
Quadruplex
MLS type
Residential Income
Status
Active
Year built
1973
Stories
1
Living area
40,869 sqft
Price / sqft
$139
MLS #
3201174

Interior

Heating
Baseboard
Cooling
Other

Schools

District
Adams-Arapahoe 28J
Elementary
Montview
Middle
North
High
Aurora Central

Utilities

Sewer
Public Sewer

Financial

Annual tax
$55,760
Parcel
R0097746
Special conditions
None Known

Location

Subdivision
NITEMARE SUBD
County
Adams

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Listed by Charles Burkhart, Marcus & Millichap Real Estate Investment Services of Atlanta, Inc.

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