1391 Lima St Denver, CO 80010
- Commercial real estate
- 5,320 SF
Current Use by Public Records
- Commercial real estate
Property Details for 1391 Lima St
- Year built
- 1965
- Property size
- 5,320 SF
- Property type
- Commercial real estate
Description
This 8-unit apartment building in Aurora, Colorado presents a compelling investment opportunity. Priced at $1,398,000, this property boasts a 6.2% cap rate, generating a net operating income (NOI) of $86,260. Built in 1965, the two-story building comprises 5,320 square feet on a 6,011 square foot lot, zoned OA-RMU. Significant recent improvements include a new Class 4 shingle roof and a professional radon mitigation system, both installed in 2021. Each of the eight units features updated interiors and appliances, along with a private storage closet and secure building entry. On-site laundry facilities add convenience for tenants. The property benefits from its prime location near the Anschutz Medical Campus and the Fitzsimons Village redevelopment project, boasting a Walk Score of 83, ensuring easy access to local amenities. Under-market rents present a significant opportunity to increase profitability. This meticulously maintained property offers passive wealth-building potential for discerning investors.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Aurora
- County
- Arapahoe
- State
- Colorado
- Longitude
- -104.85674049305
- Latitude
- 39.738290429859
