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1391 Lima St Aurora, CO 80010

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For Sale
$1,200,000

8-unit multifamily property with strong cash flow and upside.

Lot size:
0.14 Acres

Property Features for 1391 Lima St

General Information

Standard status
Active
Lot size
0.14 Acres

Building Details

Year built
1965

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Listing Contact
Valerie Cannistraro
Source: Corcoran

Listing Agency: LoKation Real Estate Listing Agent: Valerie Cannistraro

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Updated Multifamily in Growing Aurora

Located in the Delmar Parkway neighborhood, this 8-unit multifamily property is positioned to benefit from Aurora's anticipated growth. The property is currently operating at a 6.5% actual cap rate. Adjustments such as rent increases and adding a utility billback system could potentially raise returns to at least 7.4%. The property may be suitable for mid-term rentals catering to traveling nurses, due to its proximity to Anschutz Medical Campus. Each unit features modern finishes and newer appliances. Recent upgrades include a 25-year Class 4 impact-resistant roof and a radon mitigation system completed in 2021. The building provides secure access, on-site laundry, and private basement storage for each unit. The property has a Walk Score of 83, offering tenants access to restaurants, coffee shops, and grocery stores.
Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

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Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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  • Local Demand
City
Aurora
County
Arapahoe
State
Colorado
Longitude
-104.86
Latitude
39.7403

FAQs

What type of property is this?
Apartment building - 8-unit multifamily property with strong cash flow and upside.
Where is this apartment building located?
The property is located at 1391 Lima St Aurora, CO.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: - Strong 6.5% actual cap rate with potential to increase to at least 7.4%.; - Prime location in the rapidly growing Delmar Parkway neighborhood.; - Proximity to Anschutz Medical Campus makes it ideal for mid-term rentals.
More about this property
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