For Sale
$8,400,000

16300 Colfax AveAurora, CO 80011

48-Unit Apartment Building, Prime Location

Overview

Added:
Dec 11, 2024
Days on market:
116
High Line Flats, a 48-unit apartment building located at 16300 E Colfax Ave, Aurora, CO 80011, presents a compelling investment opportunity. This multifamily property, built in 1956 and situated on a 1.88-acre lot, boasts 33,600 square feet and offers a strategic mix of one- and two-bedroom units, ensuring high occupancy rates. The asking price is $8,400,000, translating to $175,000 per unit. The property currently generates a Net Operating Income (NOI) of $508,380, resulting in a 6.05% cap rate. Pro-forma NOI is projected at $517,277, yielding a 6.16% cap rate. Significant recent upgrades exceeding $500,000 have modernized interiors and enhanced amenities. The property includes 90 parking spaces, a key advantage in this market. Its location near major employers, including Anschutz Medical Campus, Buckley Space Force Base, and two Amazon Fulfillment Centers, contributes to its strong investment potential within a thriving economic area of the Colorado Front Range. The property is zoned R-3.

Highlights

  • Extensive recent capital improvements.
  • Excellent unit mix for diverse tenant base.
  • Abundant on-site parking.
  • Prime location in a high-demand area.

Property Details for 16300 Colfax Ave

Property type
Apartment buildings
Square Feet
33,600 SF
Year Built
1956
Lot Size (sq. ft)
81,893 SF
Units
48

Location Insight

City
Aurora
County
Arapahoe
State
Colorado
Latitude
39.740116966994
Longitude
-104.79816942851
16300 Colfax Ave, Aurora, Colorado

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16300 Colfax Ave
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