1391 Lima StAurora, CO 80010

Property Details for 1391 Lima St

Year built

1965

Property size (Sq ft)

5,320 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

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.

Location Insight

City

Aurora

County

Arapahoe

State

Colorado

Latitude

39.7383

Longitude

-104.857

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