1601 Nome StAurora, CO 80010

Property Details for 1601 Nome St

Year built

1973

Property size (Sq ft)

3,536 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a four-unit apartment building located at 1601 Nome St, Aurora, CO 80010. The property, built in 1973 and partially renovated in 2002, boasts 3,536 square feet of net rentable space across four units, each featuring two bedrooms and one bathroom. Each unit includes full-sized washer/dryer hookups and a private garage, amenities exceeding those typically found in the area. The property sits on a 14,282 square foot corner lot, offering ample parking with a gated front and rear access, plus additional parking in the rear. The building is constructed of sturdy brick, ensuring long-term durability. Currently vacant, the property offers a strong potential for rental income, with comparable units in the area renting for $1550-$2200 per month. The property's strategic location, just three blocks from the Fitzsimmons Hospital complex, presents an opportunity to capitalize on short-term rentals to hospital staff, students, or visiting families, potentially increasing rental income significantly. The property's current NOI is $79,200, resulting in an 8.08% cap rate. The asking price is $980,000, or $245,000 per unit, and the property is offered as a corporation sale. The property consists of three buildings, all single-story structures. Ongoing neighborhood improvements further enhance the property's investment potential. This is an ideal opportunity for investors seeking a strong return on investment, whether starting a portfolio or participating in a 1031 exchange. The Adams County Assessor's Parcel Number (APN) is 1823-35-4-21-013.

Location Insight

City

Aurora

County

Adams

State

Colorado

Latitude

39.7422

Longitude

-104.852

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