Renovated
New
For Sale
$675,000
1981 Alton St, Aurora, CO 80010
Three single-level residences provide a two-bedroom and three-bedroom unit mix with off-street parking.
Property Size3,312 SF
Days on Market2
Property Features for 1981 Alton St
General Information
Standard status
Active
Size
3,312 SF
Property subtype
Investment
Units
Unit Mix
2 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,969
Amenities
dedicated off-street parking
Building Details
Building Size
3,312 SF
Year Built
1956
Buildings
1
Construction
brick and frame
Listing Agency:
COLDWELL BANKER REALTY 18
(303) 653-2889
Listed By:
Vinh Lam
(303) 653-2889
Source:
Elliman
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 6:41AM
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.
Built in 1956, this brick-and-frame triplex contains three fully renovated residences arranged on one level. The unit mix includes two two-bedroom, one-bath homes and one three-bedroom, one-bath home. Each residence has naturally lit living areas, a functional kitchen with cabinet storage, and practical bedroom layouts. The larger three-bedroom unit includes a full-sized kitchen and may accommodate an owner-occupant arrangement while the other residences remain available for rental use.
The property includes dedicated off-street parking and low-maintenance grounds. It is located near Central Park, Fitzsimons Medical Campus, Stanley Marketplace, and The Shops at Northfield, with access to East Colfax Avenue and I-225. Downtown Denver, Anschutz Medical Campus, and Denver International Airport are also identified as accessible destinations. Walk Score is 55, Bike Score is 68, and Transit Score is 50.
The property includes dedicated off-street parking and low-maintenance grounds. It is located near Central Park, Fitzsimons Medical Campus, Stanley Marketplace, and The Shops at Northfield, with access to East Colfax Avenue and I-225. Downtown Denver, Anschutz Medical Campus, and Denver International Airport are also identified as accessible destinations. Walk Score is 55, Bike Score is 68, and Transit Score is 50.
Key Highlights
- Three‑unit property with two 2‑bedroom, 1‑bath residences and one 3‑bedroom, 1‑bath residence
- All three units renovated and arranged on a single level
- Brick‑and‑frame construction; built in 1956
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
$47,608
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
7.05%
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%
$952,160
$952.2K
Cap Rate 7%
$680,114
$680.1K
Cap Rate 9%
$528,978
$529.0K
Market Conditions
NOI Build-Up for 3,312 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
$73.5K $22.20/SF
− Vacancy
−$5.5K −$1.67/SF
EGI
$68.0K $20.54/SF
− OpEx
−$20.4K −$6.16/SF
NOI
$47.6K $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 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%
$952,160
Cap Rate 7%
$680,114
Cap Rate 9%
$528,978
Alternative Uses
Best Use
Multifamily LT 5
$680.1K
$595.1K – $793.5K
NOI $47,608 @ 7.0% cap · market cap 7.05%
Second Best
Apartment 5plus
$631.6K
$552.6K – $736.8K
NOI $44,209 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$925.5K
$809.8K – $1.08M
NOI $64,783 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
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?
Triplex - Three single-level residences provide a two-bedroom and three-bedroom unit mix with off-street parking.
Where is this triplex located?
The property is located at 1981 Alton St Aurora, CO.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Three‑unit property with two 2‑bedroom, 1‑bath residences and one 3‑bedroom, 1‑bath residence; All three units renovated and arranged on a single level; Brick‑and‑frame construction; built in 1956
