Aurora Multifamily Investment
For Sale
$2,130,000
2350 S Linden Court, Denver, CO 80222
Two Aurora buildings near Anschutz Medical Campus, ideal for investors.
Property Size5,456 SF
Price / SF$390.40
Days on Market463
Property Features for 2350 S Linden Court
General Information
Standard status
Active
Size
5,456 SF
Taxes and HOA fees
Annual Taxes
$4,898
Building Details
Year Built
1978
Listing Agency:
HOMESMART
Listed By:
SHERRY SCHOENBERGER
Source:
Corcoran
Added: May 28, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 HOMESMART
Investment Insights
Based on property information with market context.
This portfolio bundle features two buildings located side by side in Aurora. The properties, located at 14200 E. 22nd Pl and 14220 E. 22nd Pl, offer a combined total of six units. The first building contains three units with a configuration of 5 bedrooms/2 bathrooms, 5 bedrooms/2 bathrooms, and 4 bedrooms/2 bathrooms. The second building also contains three units, configured as 5 bedrooms/2 bathrooms, 4 bedrooms/2 bathrooms, and 4 bedrooms/2 bathrooms. Each building has 5456 square feet. The properties are located close to Anschutz Medical Campus and various amenities. These low-maintenance brick buildings are suitable for large families, blended families, or mother-in-law housing. Each unit includes a refrigerator, range, microwave, and washer/dryer, along with a fully finished basement, covered front porch, and fenced backyard. Each building has detached garages, plus street parking. There is no HOA. The properties feature newer paint and flooring, a new boiler in one unit, and newer double-pane windows and a sewer line in one building. Most units have tenants who pay for electric and gas. There is potential for added rental income from the garages and RUBS for water and trash. Beginning June 1, all units will be occupied. These two properties can also be sold separately.
Key Highlights
- Portfolio bundle: Two side‑by‑side buildings in Aurora offer immediate investment opportunity.
- Six total units with a mix of 4 and 5‑bedroom configurations, suitable for various tenant profiles.
- Each unit includes desirable amenities: refrigerator, range, microwave, washer/dryer, fully finished basements, covered front porches, and fenced backyards.
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
$82,842
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
3.89%
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%
$1,656,840
$1.7M
Cap Rate 7%
$1,183,457
$1.2M
Cap Rate 9%
$920,467
$920.5K
Market Conditions
NOI Build-Up for 5,456 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
$160.4K $29.40/SF
− Vacancy
−$9.8K −$1.79/SF
EGI
$150.6K $27.61/SF
− OpEx
−$67.8K −$12.42/SF
NOI
$82.8K $15.18/SF
Area
Denver, CO
Vacancy
6.10%
Lease Rate
$29.40 /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%
$1,656,840
Cap Rate 7%
$1,183,457
Cap Rate 9%
$920,467
Alternative Uses
Best Use
Apartment 5plus
$1.18M
$1.04M – $1.38M
NOI $82,842 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.74M
$1.52M – $2.03M
NOI $121,579 @ 7.0% cap · market cap 5.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,086
Businesses Nearby
Explore this area
Business Placement
Demographics for 80222, CO
22,381
Population
11,625
Households
1.9
Avg Household Size
38
Median Age
57%
College-Educated
96%
High-School Grad
3.8 sq mi
ZIP Area
5,890
Density / Sq Mi
$85,354
Median Household Income
$57,833
Median Earnings
$1,715
Median Rent
$596,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Two Aurora buildings near Anschutz Medical Campus, ideal for investors.
Where is this apartment building located?
The property is located at 2350 S Linden Court Denver, CO.
What is the asking price?
The asking price for this property is $2,130,000.
What are key features of this property?
This property features: Portfolio bundle: Two side‑by‑side buildings in Aurora offer immediate investment opportunity.; Six total units with a mix of 4 and 5‑bedroom configurations, suitable for various tenant profiles.; Each unit includes desirable amenities: refrigerator, range, microwave, washer/dryer, fully finished basements, covered front porches, and fenced backyards.
