Multifamily Property with
New
For Sale
$674,900
1612 Alton St, Aurora, CO 80010
Income-producing building with separately metered gas and electric service, an adaptable basement, and established occupancy.
Property Size3,024 SF
Price / SF$223.18
Days on Market5
Property Features for 1612 Alton St
General Information
Standard status
Active
Size
3,024 SF
Property subtype
Investment
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$4,238
Building Details
Building Size
3,024 SF
Year Built
1955
Listing Agency:
Coldwell Banker Realty 18
Listed By:
Vinh Lam
(303) 653-2889
Source:
Elliman
Added: Sep 11
Last Checked: Sep 15 at 8:10AM
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 Coldwell Banker Realty 18
Investment Insights
Based on property information with market context.
This 3,024-square-foot multifamily property, built in 1955, includes an expansive basement with two separate entryways. The basement configuration may support conversion into two independent units, subject to applicable approvals. Gas and electric service are separately metered. Existing tenants have occupied the property for more than five years, providing established occupancy. The property is being sold as-is and requires some TLC, including attention to the siding condition.
Located at 1612 Alton St in Aurora, the property has access to public transit, major thoroughfares, and central Aurora corridors. Walk Score is 55, Transit Score is 50, and Bike Score is 68. Showings are by appointment, and tenants are not to be disturbed.
Located at 1612 Alton St in Aurora, the property has access to public transit, major thoroughfares, and central Aurora corridors. Walk Score is 55, Transit Score is 50, and Bike Score is 68. Showings are by appointment, and tenants are not to be disturbed.
Key Highlights
- 3,024‑square‑foot multifamily property built in 1955
- Expansive basement with two separate entryways
- Basement may be converted into two independent units, subject to applicable approvals
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
$40,365
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
5.98%
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%
$807,300
$807.3K
Cap Rate 7%
$576,643
$576.6K
Cap Rate 9%
$448,500
$448.5K
Market Conditions
NOI Build-Up for 3,024 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
$78.7K $26.04/SF
− Vacancy
−$5.4K −$1.77/SF
EGI
$73.4K $24.27/SF
− OpEx
−$33.0K −$10.92/SF
NOI
$40.4K $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 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%
$807,300
Cap Rate 7%
$576,643
Cap Rate 9%
$448,500
Alternative Uses
Best Use
Apartment 5plus
$576.6K
$504.6K – $672.8K
NOI $40,365 @ 7.0% cap · market cap 5.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$845.0K
$739.4K – $985.8K
NOI $59,149 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Income-producing building with separately metered gas and electric service, an adaptable basement, and established occupancy.
Where is this multifamily property located?
The property is located at 1612 Alton St Aurora, CO.
What is the asking price?
The asking price for this property is $674,900.
What are key features of this property?
This property features: 3,024‑square‑foot multifamily property built in 1955; Expansive basement with two separate entryways; Basement may be converted into two independent units, subject to applicable approvals
