Move-In Ready Condo with
For Sale
$230,000
14435 E 1st Drive #B2, Aurora, CO 80011
Updated condo with community amenities, convenient location, and move-in readiness.
Property Size1,038 SF
Price / SF$221.58
Days on Market455
Property Features for 14435 E 1st Drive #B2
General Information
Standard status
Active
Size
1,038 SF
Property subtype
Condominium
Amenities
Fireplace
Cable Ready
Central Air
Forced Air
Cooktop
Dishwasher
Dryer
Microwave
Oven
Refrigerator
Washer
Deck, Patio, Porch, Natural Gas Connected, Internet Access (Wired), Electricity Connected, Phone Available, Cable Available, Shingle, Wood
Building Details
Building Size
1,038 SF
Year Built
1982
Listing Agency:
Keller Williams Realty DTC
Listed By:
Lydia Golesh · License #55043201
(303) 731-9974
Source:
Kw
Added: Jun 6, 2025
Changed: Aug 27
Last Checked: Sep 1 at 4:09PM
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 Keller Williams Realty DTC
Investment Insights
Based on property information with market context.
This property in the Cherry Grove East community features a living room with a wood-burning fireplace and access to a large patio, a dining area, and an upgraded kitchen with stainless steel appliances and new cabinets, complete with a pantry. The primary suite includes space for an in-home office, a large walk-in closet, and an upgraded bathroom. The auxiliary bathroom is also upgraded. The second bedroom provides additional access to the covered patio, which overlooks the courtyard. The home includes an oversized laundry room and linen closets. The property has a deeded, covered carport space. Community amenities include a clubhouse, pool, and renovated tennis courts, with pickleball courts planned. Located near I-225, the Denver Tech Center, and Downtown Denver, the property offers access to the High Line Canal Trail, Bicentennial Park, Town Center of Aurora, and Aurora Hills Golf Course. Light rail stations are located within a mile of the property. The property contains 1038 square feet.
Key Highlights
- Move‑in ready condo with upgraded kitchen and bathrooms.
- Community amenities include a clubhouse, pool, renovated tennis courts, and soon‑to‑come pickleball courts.
- Convenient location with easy access to I‑225, Denver Tech Center, and Downtown Denver; close to light rail stations.
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
$12,467
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
5.42%
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%
$249,340
$249.3K
Cap Rate 7%
$178,100
$178.1K
Cap Rate 9%
$138,522
$138.5K
Market Conditions
NOI Build-Up for 1,038 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
$24.2K $23.28/SF
− Vacancy
−$1.5K −$1.44/SF
EGI
$22.7K $21.84/SF
− OpEx
−$10.2K −$9.83/SF
NOI
$12.5K $12.01/SF
Area
ZIP 80011
Vacancy
6.20%
Lease Rate
$23.28 /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%
$249,340
Cap Rate 7%
$178,100
Cap Rate 9%
$138,522
Alternative Uses
Best Use
Apartment 5plus
$178.1K
$155.8K – $207.8K
NOI $12,467 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$239.4K
$209.5K – $279.3K
NOI $16,758 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
Explore this area
Business Placement
Demographics for 80011, CO
54,254
Population
19,108
Households
2.8
Avg Household Size
32
Median Age
19%
College-Educated
76%
High-School Grad
20.4 sq mi
ZIP Area
2,660
Density / Sq Mi
$69,719
Median Household Income
$36,853
Median Earnings
$1,607
Median Rent
$367,200
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 - Updated condo with community amenities, convenient location, and move-in readiness.
Where is this apartment building located?
The property is located at 14435 E 1st Drive #B2 Aurora, CO.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Move‑in ready condo with upgraded kitchen and bathrooms.; Community amenities include a clubhouse, pool, renovated tennis courts, and soon‑to‑come pickleball courts.; Convenient location with easy access to I‑225, Denver Tech Center, and Downtown Denver; close to light rail stations.
