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Jim Thomas

jim@thomasratay.com +1(720) 317-9621

$1,200,000

Est. payment - /mo

6,098 Sqft Lot

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UPDATED:

Key Details

Property Type Other Types

Listing Status Active

Purchase Type For Sale

Subdivision Aurora Heights

MLS Listing ID IRE1045199

HOA Y/N No

Year Built 1965

Annual Tax Amount $8,004

Tax Year 2024

Lot Size 6,098 Sqft

Acres 0.14

Source ires

Property Description

Located in the heart of the rapidly growing Delmar Parkway neighborhood, this 8-unit multifamily is in a prime position to take advantage of Aurora's expected 40% growth by 2050. It's currently operating at a strong 6.5% actual cap rate, but simple adjustments like modest rent increases and adding a utility billback system would raise returns to at least 7.4%. With Anschutz Medical Campus just minutes away, this property is ideal for mid-term rentals catering to traveling nurses, providing the chance for even greater returns. Each unit has been updated with modern finishes and newer appliances, offering a turnkey experience for a new owner. Major recent upgrades include a 25-year Class 4 impact-resistant roof and a radon mitigation system completed in 2021. The building offers secure access, on-site laundry, and private basement storage for each unit. With a Walk Score of 83, tenants have easy access to restaurants, coffee shops, and grocery stores. With great cash flow and plenty of upside, this property is a rare find in one of Aurora's hottest neighborhoods.

Location

State CO

County Arapahoe

Community Aurora Heights

Area Metro Denver

Zoning OA-RMU

Rooms

Basement None

Interior

Heating Radiator

Cooling Window Unit(s)

Appliance Fire Alarm

Exterior

Utilities Available Natural Gas Available, Electricity Available

View Y/N No

Roof Type Composition

Improvements No

Garage No

Building

Lot Description Corner Lot, Level, Paved

Sewer Public Sewer

Water City

Structure Type Brick

New Construction false

Schools

Elementary Schools Kenton

High Schools Adams-Arapahoe 28J

School District Adams-Arapahoe 28J

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Private Owner

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Information and Real Estate Services (IRES)

Listed by Valerie Cannistraro

NEARBY SCHOOL & BUSINESS

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Jim Thomas

+1(720) 317-9621

Principal & Broker Associate | FA100031661

Principal & Broker Associate FA100031661

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1391 Lima Aurora, CO 80010

Jim Thomas

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

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1391 Lima