Building Details

Year Built 1950

Construction brick

Listing Agency: Manes & Associates Show Phone

Listed By: Gary Manes · License #040006477 Show Phone

Source: Exitrealty

Added: Jan 30, 2025 Changed: Sep 2 Last Checked: Sep 15 at 4:50AM

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Investment Insights

Based on property information with market context.

This 1950-built brick fourplex contains 2,704 square feet arranged as two upper units and two lower units. Each residence includes two bedrooms, one storage unit, and two back-to-back tandem parking spaces located behind the property. Two 75-gallon water heaters serve the building. Units at 1476 and 1480 are almost completely remodeled, while the remaining units have received some updating. The roof and exterior paint are approximately 7 years old.

The property is near bus service, Fitzsimmons, and the Medical Complex, with a K–8 school within walking distance. Retail, shopping, and restaurants are also conveniently located nearby.

Key Highlights

• Four‑unit brick building with 2,704 square feet, built in 1950
• Each unit offers 2 bedrooms, 2 tandem parking spaces, and 1 storage unit
• Two units are almost completely remodeled; the other units have some updating

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$38,869

Cap Rate

4.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$777,380 $777.4K

Cap Rate 7%

$555,271 $555.3K

Cap Rate 9%

$431,878 $431.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,704 SF

Gross rent

$60.0K $22.20/SF

− Vacancy

−$4.5K −$1.67/SF

EGI

$55.5K $20.54/SF

− OpEx

−$16.7K −$6.16/SF

NOI

$38.9K $14.37/SF

Area

Aurora, CO

Vacancy

7.50%

Lease Rate

$22.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$777,380

Cap Rate 7%

$555,271

Cap Rate 9%

$431,878

Alternative Uses

Best Use

Multifamily LT 5

$555.3K

$485.9K – $647.8K (±1% cap)

NOI $38,869 @ 7.0% cap · market cap 4.87%

Second Best

Apartment 5plus

$515.6K

$451.2K – $601.6K (±1% cap)

NOI $36,093 @ 7.0% cap · market cap 4.52%

Theoretical Best

Office A

$755.6K

$661.1K – $881.5K (±1% cap)

NOI $52,890 @ 7.0% cap · market cap 6.63%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Building Supply Parking Lot & Garage Acupuncture

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Location Intelligence

Trade Area within ½ mile

1,135

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

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Two-story brick income property with remodeled units, individual storage, and tandem parking.

Where is this quadplex located?

The property is located at 1480 Boston Street Aurora, CO.

What is the asking price?

The asking price for this property is $798,000.

What are key features of this property?

This property features: Four‑unit brick building with 2,704 square feet, built in 1950; Each unit offers 2 bedrooms, 2 tandem parking spaces, and 1 storage unit; Two units are almost completely remodeled; the other units have some updating