Nine-unit, single-story apartment building on a 0.29-acre lot in Original Aurora, just north of East Colfax. Built in 1951, the building offers three studios and six 1-bedroom units with an open parking lot, and a garden layout with no interior stairs, elevators or common corridors. The current rent roll totals $106,500 per year ($986 average, $875-$1,100 per unit, 100% occupied as provided by owner). Net operating income is estimated at $50,774, a 5.64% cap rate at list price, with professional management underwritten at 6%; a 5% rent increase supports a pro forma NOI of about $55,429 (6.16% cap). In-place rents run below recent 5+ unit sales in 80010, leaving upside for a value-add buyer. Bus service on East Colfax, with quick access to the Anschutz Medical Campus and Fitzsimons, Stanley Marketplace, I-225 and downtown Denver. Offering memorandum and rent roll available to qualified buyers. Tours by appointment only; please do not disturb tenants. Buyer to verify all information, including unit mix, square footage, zoning, income and expenses.
Property details
Property
Type
Multi Family
MLS type
Commercial Sale
Status
Active
Year built
1951
Lot
0.29 AC / 12,700 SF
MLS #
4753469
Exterior & lot
Lot
Near Public Transit
Utilities
Utilities
Natural Gas Connected, Sewer Connected
Water
Public
Sewer
Public Sewer
Financial
Annual tax
$7,663
Parcel
R0095033
Location
County
Adams
Directions
From E Colfax Ave, turn north on Beeler St. Property is just north of Colfax on Beeler St.
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Listed by Michael Le, Keller Williams Real Estate LLC