Updated Fourplex with R2
493 Fulton St, Aurora, CO 80010
For Sale
$990,000
Nicely updated fourplex on a 0.54-acre parcel with R2 zoning and owner-occupant flexibility.
Property Size4,200 SF
Lot Size0.54 Acres
Price / SF$235.71
Days on Market129
Property Features for 493 Fulton St
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Neighborhood
Additional Details
Multifamily Units
Building Details
Year Built
Tenancy
Listing Agency:
Mavi Unlimited Inc
Listed By:
Michael Hoover · License #100036906
(720) 771-8061
Source:
Allianceteamco
Added: Jul 4
Changed: Oct 25
Last Checked: Oct 7 at 5:47PM
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 Mavi Unlimited Inc
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Investment Insights
Based on property information with market context.
493 Fulton Street in Aurora, Colorado presents a nicely updated, currently occupied residential fourplex on an expansive 0.54-acre parcel (23,522 square feet). The property is also positioned as a development-minded option, offering a blank-canvas site for future redevelopment while maintaining an owner-occupied residential income setup.
The site is described as being in the heart of Aurora, with convenient access to the Anschutz Medical Campus (including the University of Colorado, Children’s Hospital, and the Veterans Affairs hospital) a few miles away. It also sits about a two-minute drive from the Lowry neighborhood and Stanley Marketplace, with additional nearby recreation and shopping referenced including CommonGround Golf Course and Lowry Park, plus retail along Havana Street.
The flexible R2 zoning provides redevelopment options for higher-density concepts, with the remarks indicating potential for 6–10 individual townhomes or 12–16 apartments, subject to city approval. The existing building supports immediate occupancy while the parcel supports long-range planning.
The site is described as being in the heart of Aurora, with convenient access to the Anschutz Medical Campus (including the University of Colorado, Children’s Hospital, and the Veterans Affairs hospital) a few miles away. It also sits about a two-minute drive from the Lowry neighborhood and Stanley Marketplace, with additional nearby recreation and shopping referenced including CommonGround Golf Course and Lowry Park, plus retail along Havana Street.
The flexible R2 zoning provides redevelopment options for higher-density concepts, with the remarks indicating potential for 6–10 individual townhomes or 12–16 apartments, subject to city approval. The existing building supports immediate occupancy while the parcel supports long-range planning.
Key Highlights
- Nicely updated residential fourplex built in 1941
- Set on a 0.54‑acre (23,522 SF) parcel
- R2 zoning provides redevelopment flexibility
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,373
Cap Rate
6.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,207,460
$1.2M
Cap Rate 7%
$862,471
$862.5K
Cap Rate 9%
$670,811
$670.8K
Market Conditions
NOI Build-Up for 4,200 SF
Gross rent
$93.2K $22.20/SF
− Vacancy
−$7.0K −$1.67/SF
EGI
$86.2K $20.54/SF
− OpEx
−$25.9K −$6.16/SF
NOI
$60.4K $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%
$1,207,460
Cap Rate 7%
$862,471
Cap Rate 9%
$670,811
Alternative Uses
Best Use
Multifamily LT 5
$862.5K
$754.7K – $1.01M
NOI $60,373 @ 7.0% cap · market cap 6.10%
Second Best
Apartment 5plus
$800.9K
$700.8K – $934.4K
NOI $56,062 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,152 @ 7.0% cap · market cap 8.30%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,135
Businesses Nearby
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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
$385,700
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Arapahoe County, CO
Properties on Market for Quadplexes in Arapahoe County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Nicely updated fourplex on a 0.54-acre parcel with R2 zoning and owner-occupant flexibility.
Where is this quadplex located?
The property is located at 493 Fulton St Aurora, CO.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Nicely updated residential fourplex built in 1941; Set on a 0.54‑acre (23,522 SF) parcel; R2 zoning provides redevelopment flexibility
