1923-1933 Dallas StAurora, CO 80010

Property Details for 1923-1933 Dallas St

Year built

1957

Lot size

0.29 AC

Property size (Sq ft)

7,956 SF

Property type

Apartment buildings

Description

This exceptional Aurora, Colorado multifamily investment opportunity presents a 16-unit apartment building situated on a 0.29-acre lot at 1923-1933 Dallas Street, 80010. The property, comprised of two buildings, each housing eight one-bedroom units, boasts a total of 7,956 square feet, with 7,200 square feet of net rentable space. Ten units have undergone recent renovations (2023), while six units remain unrenovated, presenting a significant value-add opportunity. The property features a gated entry system for enhanced security, ample off-street parking (15 spaces), and convenient on-site laundry facilities. Recent capital improvements include newer roofs (2022), a new water heater (2023), and a boiler replacement (2021), minimizing future capital expenditure needs. The property's strong financial performance is reflected in its current NOI of $166,183 and a pro-forma NOI of $178,215, yielding a 6.27% cap rate and a pro-forma cap rate of 6.73%. The asking price is $2,650,000, translating to $165,625 per unit and $333 per square foot. Its prime location, just three blocks from the vibrant Stanley Marketplace and minutes from the Anschutz Medical Campus, ensures high occupancy rates and strong rental demand. The property is zoned OA-RMU and includes all utilities being the responsibility of the tenant (RUBS). This investment offers a compelling blend of immediate cash flow and substantial future upside potential.

Location Insight

City

Aurora

County

Adams

State

Colorado

Latitude

39.7462

Longitude

-104.877

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