Five-Building Apartment
For Sale
$30,000,000
10785 E Exposition Ave, Aurora, CO 80012
Park Place at Expo Apartments is a 319-unit community built in 1971 with updated interiors and on-site amenities.
Property Size206,174 SF
Lot Size9.20 Acres
Days on Market159
Property Features for 10785 E Exposition Ave
General Information
Standard status
Active
Size
206,174 SF
Lot size
9.20 Acres
Property subtype
Multifamily
Occupancy
71%
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
319
Amenities
business center with complimentary wi-fi
clubhouse
fitness center
grilling stations and picnic areas
package service
playground
swimming pool
basketball court
Modernized apartments with vinyl floors, sleek cabinetry, and full amenities including pool, fitness center, business lounge, and playground—all beside scenic Expo Park's trails and sports fields.
Prime Aurora location near I-225, South Havana retail, Anschutz Medical Campus, and Denver Tech Center—offering unmatched access to jobs, recreation, and transit for modern urban living.
Positioned in Aurora's thriving submarket with strong renter demand, limited new supply, and a 51% rent-to-own cost advantage—offering investors lasting income growth and appreciation potential.
Building Details
Building Size
206,174 SF
Year Built
1971
Units
319
Listed By:
Greg Parker · License #License(s): CO: FA.100074810
(303) 328-2015
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 8
Last Checked: Jul 23 at 12:14PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Greg Parker
Investment Insights
Based on property information with market context.
Park Place at Expo Apartments is a 319-unit multifamily community originally built in 1971, comprised of five buildings on a 9.2-acre parcel. The unit mix includes 46 studio units, 178 one-bedroom units, and 95 two-bedroom units. Interior updates feature hard surface vinyl flooring, shaker cabinets, updated countertops, new white appliances, modern fixtures, and other improvements.
The community includes a business center with complimentary wi-fi, clubhouse, fitness center, multiple grilling stations and picnic areas, package service, playground, swimming pool, and a basketball court. Significant surface parking is available for resident convenience. Residents also benefit from direct access to Expo Park, an adjacent 57-acre public amenity featuring an 18-hole disc golf course, softball fields, tennis courts, playground, and walking paths connecting to the regional High Line Canal Trail and Westerly Creek Trail.
For connectivity, the property provides direct access to major thoroughfares including I-25 and I-225, with location off South Havana Street offering access to east/west routes such as East Mississippi Avenue and East Alameda Avenue.
The community includes a business center with complimentary wi-fi, clubhouse, fitness center, multiple grilling stations and picnic areas, package service, playground, swimming pool, and a basketball court. Significant surface parking is available for resident convenience. Residents also benefit from direct access to Expo Park, an adjacent 57-acre public amenity featuring an 18-hole disc golf course, softball fields, tennis courts, playground, and walking paths connecting to the regional High Line Canal Trail and Westerly Creek Trail.
For connectivity, the property provides direct access to major thoroughfares including I-25 and I-225, with location off South Havana Street offering access to east/west routes such as East Mississippi Avenue and East Alameda Avenue.
Key Highlights
- 319‑unit multifamily community at 10785 E Exposition Avenue in Aurora, Colorado
- Built in 1971; five buildings on a 9.2‑acre parcel
- Unit mix: 46 studios (avg 423 SF), 178 one‑bedrooms (avg 527 SF), and 95 two‑bedrooms (avg 788 SF)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$2,608,214
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.69%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$52,164,280
$52.2M
Cap Rate 7%
$37,260,200
$37.3M
Cap Rate 9%
$28,980,156
$29.0M
Market Conditions
NOI Build-Up for 206,174 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$5.07M $24.60/SF
− Vacancy
−$329.7K −$1.60/SF
EGI
$4.74M $23.00/SF
− OpEx
−$2.13M −$10.35/SF
NOI
$2.61M $12.65/SF
Area
ZIP 80012
Vacancy
6.50%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$52,164,280
Cap Rate 7%
$37,260,200
Cap Rate 9%
$28,980,156
Alternative Uses
Best Use
Apartment 5plus
$37.26M
$32.60M – $43.47M
NOI $2,608,214 @ 7.0% cap · market cap 8.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$49.31M
$43.14M – $57.52M
NOI $3,451,353 @ 7.0% cap · market cap 11.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
319
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,123
Businesses Nearby
Explore this area
Business Placement
Demographics for 80012, CO
49,897
Population
20,102
Households
2.5
Avg Household Size
35
Median Age
27%
College-Educated
84%
High-School Grad
7.6 sq mi
ZIP Area
6,565
Density / Sq Mi
$69,835
Median Household Income
$40,526
Median Earnings
$1,697
Median Rent
$398,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Park Place at Expo Apartments is a 319-unit community built in 1971 with updated interiors and on-site amenities.
Where is this apartment building located?
The property is located at 10785 E Exposition Ave Aurora, CO.
What is the asking price?
The asking price for this property is $30,000,000.
What are key features of this property?
This property features: 319‑unit multifamily community at 10785 E Exposition Avenue in Aurora, Colorado; Built in 1971; five buildings on a 9.2‑acre parcel; Unit mix: 46 studios (avg 423 SF), 178 one‑bedrooms (avg 527 SF), and 95 two‑bedrooms (avg 788 SF)
