Aurora Multifamily Investment
For Sale
$1,776,000
11916 E 14th, Aurora, CO 80010
16-unit multifamily property in Aurora, Colorado with upgrade potential.
Property Size8,876 SF
Lot Size0.33 Acres
Price / SF$200.09
Days on Market107
Property Features for 11916 E 14th
General Information
Standard status
Active
Size
8,876 SF
Lot size
0.33 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$12,398
Building Details
Year Built
1960
Units
16
Listing Agency:
Unique Properties, Inc
(214) 616-2695
Listed By:
Elliott Polanchyck
(214) 616-2695
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 8 at 12:19PM
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 Unique Properties, Inc
Investment Insights
Based on property information with market context.
The multifamily property at 11916 & 12000 E 14th Avenue in Aurora, Colorado, features two two-story brick apartment buildings constructed in 1960. The property includes 16 units on a 14,331 square foot lot, totaling approximately 8,876 gross building square feet. The unit mix consists entirely of one-bedroom, one-bathroom units, each averaging approximately 500 square feet. Eleven of the sixteen units have been upgraded, offering the potential for further interior renovations. Recent capital improvements include new apartment security doors installed in both buildings in 2023 and full boiler replacements in 2024. There is an opportunity to increase net operating income through the implementation of a utility bill-back program. The property has a bike score of 57, indicating it is bikeable, a walk score of 39, indicating car-dependent, and a transit score of 43, indicating some transit options are available.
Key Highlights
- Sixteen‑unit multifamily property in Aurora, Colorado.
- Eleven of sixteen units are upgraded, providing immediate value and rental income.
- New boilers installed in 2024, minimizing near‑term capital expenditures.
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
$118,478
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
6.67%
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%
$2,369,560
$2.4M
Cap Rate 7%
$1,692,543
$1.7M
Cap Rate 9%
$1,316,422
$1.3M
Market Conditions
NOI Build-Up for 8,876 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
$231.1K $26.04/SF
− Vacancy
−$15.7K −$1.77/SF
EGI
$215.4K $24.27/SF
− OpEx
−$96.9K −$10.92/SF
NOI
$118.5K $13.35/SF
Area
Aurora, CO
Vacancy
6.80%
Lease Rate
$26.04 /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%
$2,369,560
Cap Rate 7%
$1,692,543
Cap Rate 9%
$1,316,422
Alternative Uses
Best Use
Apartment 5plus
$1.69M
$1.48M – $1.97M
NOI $118,478 @ 7.0% cap · market cap 6.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.48M
$2.17M – $2.89M
NOI $173,615 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,775
Businesses Nearby
Explore this area
Business Placement
Demographics for 80010, CO
42,303
Population
15,394
Households
2.7
Avg Household Size
32
Median Age
19%
College-Educated
73%
High-School Grad
5.1 sq mi
ZIP Area
8,295
Density / Sq Mi
$60,755
Median Household Income
$36,349
Median Earnings
$1,400
Median Rent
$385,700
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 - 16-unit multifamily property in Aurora, Colorado with upgrade potential.
Where is this apartment building located?
The property is located at 11916 E 14th Aurora, CO.
What is the asking price?
The asking price for this property is $1,776,000.
What are key features of this property?
This property features: Sixteen‑unit multifamily property in Aurora, Colorado.; Eleven of sixteen units are upgraded, providing immediate value and rental income.; New boilers installed in 2024, minimizing near‑term capital expenditures.
