16300 Colfax AveAurora, CO 80011

Property Details for 16300 Colfax Ave

Lot size

0.13 AC

Property type

Commercial land

APN

40-013-15-003

APU

4001315003

Description

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.

• Alternative Use

  Use

  Valuation

  Residential

  $1,172,924

  Hospitality

  $1,074,392

  Educational

  $893,882

  Medical

  $924,623

  Retail

  $1,390,482

Location Insight

City

Golden

County

Jefferson

State

Colorado

Latitude

39.7275

Longitude

-105.182

CBSA code

19740

CBSA name

DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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