1680 Akron Street, Aurora, CO 80010

$1,440,000
List Price
$1,440,000
Type
Multifamily
Status
ACTIVE
MLS Number
9206101
Total Sqft
7740
Year Built
1961

Property Description

"The Kelly" is a 12 unit apartment building located in one of the most profitable sub-markets in metro Denver. The neighborhood continues to thrive and has enjoyed an average annual growth rate of 18% since 2012. The area is surrounded by new development with Stapleton & Stanley Marketplace to the north, Anschutz Medical Campus to the east, and Lowry to the south. The building sits on a peaceful, quiet block surrounded by single family homes. $10,000 in new, low maintenance landscaping provides great curb appeal for current and prospective tenants. The common areas and many of the apartment interiors have new hard surface flooring to give the building a modern feel while helping keep unit turnover costs low. Listed at $1,440,000 The Kelly is being sold at the lowest price per door in metro Denver, just $120,000 per unit. This price provides an unbeatable 7% cap rate on pro forma financials. A hidden gem just across the boarder from Denver, the building could be a great fit for any investor looking to outpace broader market returns in the coming years.

Additional Information

Zoned
R-4
Lot Size
9,525
Acres
0.22
Contstruction
Frame
Taxes
$10,427
Tax Year
2019

Courtesy of City Beautiful Real Estate

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