152 Del Mar Cir Aurora, CO 80011

Property Details for 152 Del Mar Cir

Year built

1967

Lot size

0.62 lot acres

Property size

28,048 SF

Property type

Commercial real estate

APN

1973-01-3-12-004

Description

This exceptional investment opportunity presents a well-maintained, 37-unit apartment building located at 152 Del Mar Cir, Aurora, CO 80011. The property, known as Colony House Apartments, boasts a total of 28,048 square feet across two, four-story buildings, constructed in 1967 and extensively renovated between 2019 and 2020. The unit mix includes one studio, thirty-four one-bedroom/one-bathroom units, and two two-bedroom units. Over 80% of the units feature updated cabinets, flooring, and double-paned windows. Building amenities include a new elevator (installed 2017), a covered pool (equipment in place), a side office, two storage sheds, and 35 off-street parking spaces with additional on-street parking available. The property sits on a 0.62-acre lot (APN: 1973-01-3-12-004) and is zoned R-4. Its prime location offers convenient access to King Soopers, bus routes, the Aurora Senior Center, a large park, and is within two miles of the Aurora Medical Complex and I-225 via Alameda Avenue. Significant upside potential exists through rental increases and utility bill back opportunities for gas, water, and trash. The building also features a 16-camera security system. The asking price is $5,900,000, representing a price per unit of $159,459.46 and a price per square foot of $210.35. This property is offered as a 1031 exchange opportunity.

Location Insight

City

Aurora

County

Arapahoe

State

Colorado

Longitude

-104.8435587

Latitude

39.7260807