For Sale
$1,398,000

1391 Lima StAurora, CO 80010

High-Yield Multifamily Investment

Overview

Added:
Dec 11, 2024
Days on market:
115
This 8-unit apartment building in Aurora, Colorado presents a compelling investment opportunity. Priced at $1,398,000, this property boasts a 6.2% cap rate, generating a net operating income (NOI) of $86,260. Built in 1965, the two-story building comprises 5,320 square feet on a 6,011 square foot lot, zoned OA-RMU. Significant recent improvements include a new Class 4 shingle roof and a professional radon mitigation system, both installed in 2021. Each of the eight units features updated interiors and appliances, along with a private storage closet and secure building entry. On-site laundry facilities add convenience for tenants. The property benefits from its prime location near the Anschutz Medical Campus and the Fitzsimons Village redevelopment project, boasting a Walk Score of 83, ensuring easy access to local amenities. Under-market rents present a significant opportunity to increase profitability. This meticulously maintained property offers passive wealth-building potential for discerning investors.

Highlights

  • Excellent opportunity to generate passive income with this 8-unit apartment building.
  • The property features a new Class 4 shingle roof (2021) and a radon mitigation system (2021).
  • Units have updated interiors and appliances, individual storage closets, and secure entry.
  • On-site laundry facilities are provided.
  • The property offers a 6.2% cap rate (including management fees), providing a strong return on investment.
  • Prime location near Anschutz Medical Campus and Fitzsimons Village redevelopment, boasting a Walk Score of 83.

Property Details for 1391 Lima St

Property type
Apartment buildings
Square Feet
5,320 SF
Year Built
1965
Buildings
1
Stories
2
Units
8

Location Insight

City
Aurora
County
Arapahoe
State
Colorado
Latitude
39.738290429859
Longitude
-104.85674049305
1391 Lima St, Aurora, Colorado

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1391 Lima St
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