Remodeled Apartment Building Near
152 Del Mar Circle Aurora, CO 80011
152 Del Mar Circle, Aurora, CO, 80011
$5,700,000
For Sale
$5,700,000
37-unit apartment building with remodeled units and rent upside.
Property Size28,048 SF
Lot Size0.62 Acres
Price / SF$203.22
Days on Market716
Property Features for 152 Del Mar Circle
General Information
- Standard status
- Active
- Size
- 28,048 SF
- Lot size
- 0.62 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1967
Listing Agency
Genesee Commercial Group LLC
(720) 839-7300
Listed by
Barbara Carlson · License #100003184
(720) 839-7300
Source
Exitrealty
Added: Aug 1, 2024 Checked: Jul 17 at 3:55 am
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 Genesee Commercial Group LLC
Investment Insights
Based on property information with market context.
Colony House Apartments is a secured 37-unit apartment building featuring a mix of residential units, including one studio, thirty-four one-bedroom/one-bathroom units, and three two-bedroom units. Over 80% of the units have been remodeled since 2020 with new cabinets, flooring, and double-paned windows. The four-story building is serviced by an elevator that was replaced in 2017. The property includes a covered pool with all mechanical systems still in place. The boiler and water heater were replaced in 2025. A 16-camera security system enhances the building's security. Additional amenities include an on-site office and two storage sheds. The parking lot provides thirty-five off-street parking spots, with additional on-street parking available. The property is located next door to a King Soopers grocery store and bus routes, and across the street from the Aurora senior center and recreation center, including a large park. It is situated approximately 2 miles from the Aurora medical complex and I-225 via Alameda Ave. There is potential for rent increases and utility bill back for gas, water, and trash.
Key Highlights
- Over 80% of units remodeled since 2020 with new cabinets, flooring, and double‑paned windows.
- New boiler and water heater replaced in 2025.
- Secured building with a 16‑camera security system.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $653.0k | $23.28 |
| − Vacancy | −$40.5k | −$1.44 |
| EGI | $612.5k | $21.84 |
| − OpEx | −$275.6k | −$9.83 |
| NOI | $336.9k | $12.01 |
28,048 SF · lease $23.28/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.81M
$4.21M – $5.61M
NOI $336,861 @ 7.0% cap · market cap 5.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.47M
$5.66M – $7.55M
NOI $452,829 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - 37-unit apartment building with remodeled units and rent upside.
Where is this apartment building located?
The property is located at 152 Del Mar Circle Aurora, CO.
What is the asking price?
The asking price for this property is $5,700,000.
What are key features of this property?
This property features: Over 80% of units remodeled since 2020 with new cabinets, flooring, and double‑paned windows.; New boiler and water heater replaced in 2025.; Secured building with a 16‑camera security system.
