Updated Multifamily in Growing
1391 Lima St, Aurora, CO 80010
For Sale
$1,200,000
8-unit multifamily property with upside in Aurora's Delmar Parkway.
Property Size6,505 SF
Lot Size0.14 Acres
Days on Market249
Property Features for 1391 Lima St
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
LoKation Real Estate
Listed By:
Valerie Cannistraro · License CO FA100084970
(303) 618-1171
Source:
Elliman
Added: Mar 10
Changed: Nov 10
Last Checked: Nov 12 at 8:08AM
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 LoKation Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 8-unit multifamily property is situated in the Delmar Parkway neighborhood. The property is positioned to benefit from Aurora's anticipated growth. The building is currently operating at a 6.5% cap rate. Adjustments such as rent increases and a utility billback system could potentially raise returns to at least 7.4%. Located minutes from Anschutz Medical Campus, the property is suitable for mid-term rentals catering to traveling nurses. 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. Building amenities include secure access, on-site laundry, and private basement storage for each unit. The property has a Walk Score of 83, providing tenants with access to restaurants, coffee shops, and grocery stores.
Key Highlights
- 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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,829
Cap Rate
7.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,736,580
$1.7M
Cap Rate 7%
$1,240,414
$1.2M
Cap Rate 9%
$964,767
$964.8K
Market Conditions
NOI Build-Up for 6,505 SF
Gross rent
$169.4K $26.04/SF
− Vacancy
−$11.5K −$1.77/SF
EGI
$157.9K $24.27/SF
− OpEx
−$71.0K −$10.92/SF
NOI
$86.8K $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 Rate 5%
$1,736,580
Cap Rate 7%
$1,240,414
Cap Rate 9%
$964,767
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $86,829 @ 7.0% cap · market cap 7.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,238 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,135
Businesses Nearby
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Apartment buildings in Aurora
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - 8-unit multifamily property with upside in Aurora's Delmar Parkway.
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.
