For Sale
$1,035,000

1733 Paris StAurora, CO 80010

8-Unit Apartment Building, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
116
This 8-unit apartment building in Aurora, Colorado, presents a compelling investment opportunity. Located just one block from the Fitzsimons/Anschutz Medical Campus, this property boasts a prime location near a major employment hub with over 40,000 employees. The building, constructed in 1950, sits on a 0.15-acre lot and offers 4,368 square feet of net rentable space. Each of the eight units is a one-bedroom, one-bathroom apartment, featuring updated cabinetry, flooring, light fixtures, and paint. Four units are garden-level, and four are upstairs. The building benefits from a new roof, energy-efficient double-paned windows, and a central boiler heating system. Eight off-street parking spaces are available to residents, accessed through secure front and back entrances. The xeriscaped grounds require minimal maintenance. The property's current pro-forma NOI is $77,660, yielding a 7.50% cap rate at an asking price of $1,035,000 ($129,375 per unit). There's potential to add a community laundry facility, increasing income. The high demand for rental units in this area, particularly from traveling medical professionals, presents an opportunity to convert leases to mid-term rentals, potentially increasing monthly income by 20%. The property's proximity to Fitzsimons, Denver International Airport (DIA), and Stanley Marketplace further enhances its investment appeal. This is a value-add opportunity with significant upside potential through improved operations and rent increases. The low-maintenance brick building and 1:1 parking ratio add to its attractiveness.

Highlights

  • Value-add opportunity with a projected 7.50%+ cap rate.
  • High-demand rental market offering 20% rental upside potential.
  • Prime location near Fitzsimons Medical Campus, DIA, and Stanley Marketplace.
  • Secure entry; eight one-bedroom, one-bathroom units.
  • 1:1 off-street parking ratio.
  • Low-maintenance brick building with minimal landscaping.

Property Details for 1733 Paris St

Property type
Apartment buildings
Year Built
1950
Lot Size (sq. ft)
6,534 SF
Units
8

Location Insight

City
Aurora
County
Adams
State
Colorado
Latitude
39.7444836
Longitude
-104.8485073
1733 Paris St, Aurora, Colorado

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1733 Paris St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message