Five-unit apartment building on a 6,350 sq ft corner lot in Original Aurora, two blocks north of East Colfax. Built in 1957, the building offers three 1-bedroom and two 2-bedroom units plus 3 off-street parking spaces. In-place rents total $76,800 per year for an estimated NOI of $47,764, a 7.35% cap rate at list price. Bringing rents to market supports a pro forma NOI of about $55,174 (8.49% cap). Owner pays water and sewer. Small enough for an individual investor to self-manage, large enough to qualify as commercial multifamily. Minutes to the Anschutz Medical Campus and Fitzsimons, Stanley Marketplace, I-225 and downtown Denver, with bus service on East Colfax. Offering memorandum and rent roll available to qualified buyers. Tours by appointment only; please do not disturb tenants. Buyer to verify all information, including square footage, zoning, income and expenses.
Property details
Property
Type
Multi Family
MLS type
Commercial Sale
Status
Active
Year built
1957
Lot
0.15 AC / 6,350 SF
MLS #
9910198
Exterior & lot
Roof
Membrane
Lot
Corner Lot, Near Public Transit
Utilities
Utilities
Electricity Connected, Natural Gas Connected, Sewer Connected
Water
Public
Sewer
Public Sewer
Financial
Annual tax
$4,215
Parcel
R0094956
Location
County
Adams
Directions
From E Colfax Ave, go north on Akron St about two blocks. Property is on the corner of Akron St and E 17th Ave.
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Listed by Michael Le, Keller Williams Real Estate LLC