Aurora Multifamily Investment
For Sale
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1601 Joliet St, Aurora, CO 80010
Renovated multifamily asset in Aurora, near major employment corridor.
Property Size16,200 SF
Price / SF$182.10
Days on Market211
Property Features for 1601 Joliet St
General Information
Standard status
Active
Size
16,200 SF
Property subtype
Multifamily
Occupancy
92%
Net Operating Income
$149,682
Building Details
Year Built
1959
Year Renovated
2022
Buildings
4
Units
24
Listing Agency:
MMG
Listed By:
Adam Riddle · License #CO 100024441
(303) 257-7627
Source:
Crexi
Added: Mar 19
Changed: Oct 10
Last Checked: Oct 14 at 11:03PM
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 MMG
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Investment Insights
Based on property information with market context.
The 1601–1645 Joliet Street Apartments present an opportunity to acquire a renovated multifamily asset in Aurora, Colorado. The property is positioned within a major employment corridor of the Denver metro area, benefiting from its proximity to leading healthcare, military, aerospace, bioscience, and logistics employers. This asset features renovated units and a two-bedroom-heavy unit mix. The property size is 16200 square feet.
Key Highlights
- Renovated multifamily asset in Aurora, Colorado.
- Located within a major employment corridor of the Denver metro area.
- Proximity to leading healthcare, military, aerospace, bioscience, and logistics employers.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$216,239
Cap Rate
7.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,324,780
$4.3M
Cap Rate 7%
$3,089,129
$3.1M
Cap Rate 9%
$2,402,656
$2.4M
Market Conditions
NOI Build-Up for 16,200 SF
Gross rent
$421.8K $26.04/SF
− Vacancy
−$28.7K −$1.77/SF
EGI
$393.2K $24.27/SF
− OpEx
−$176.9K −$10.92/SF
NOI
$216.2K $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%
$4,324,780
Cap Rate 7%
$3,089,129
Cap Rate 9%
$2,402,656
Alternative Uses
Best Use
Apartment 5plus
$3.09M
$2.70M – $3.60M
NOI $216,239 @ 7.0% cap · market cap 7.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.53M
$3.96M – $5.28M
NOI $316,872 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated multifamily asset in Aurora, near major employment corridor.
Where is this apartment building located?
The property is located at 1601 Joliet St Aurora, CO.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Renovated multifamily asset in Aurora, Colorado.; Located within a major employment corridor of the Denver metro area.; Proximity to leading healthcare, military, aerospace, bioscience, and logistics employers.
