16300 Colfax Ave Aurora, CO 80011

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.