1995-1997 Akron St - Apartments FOR SALE


Aurora, CO 80010- North Aurora
$2,550,000 USD
720-476-2329
1995-1997 Akron St, Aurora, CO for Sale
$2,550,000 USD
Apartments - FOR SALE
1/23
null | Request Cap Rate

1995-1997 Akron St
Aurora, CO 80010
North Aurora


HIGHLIGHTS

  • Well-Maintained, Low Maintenance Brick Buildings
  • Immediate Rental Upside, 20-30% Below Market
  • Under $200/SF; $127,500/Unit
  • 20 Units (18 One-Bedrooms, 2 Studios) with Desirable Floor Plans
  • Secured Entry; Two Laundry Rooms; 30 Off-Street Parking Spaces
  • No Landscaping to Maintain; Pitched Roof

OVERVIEW

1995 & 1997 Akron Street is a 20-unit apartment community located on the Denver/Aurora border next to Denver’s popular Central Park neighborhood. The property is walking distance to schools, employment, public transportation, and the Stanley Marketplace. Built in 1971, both buildings are all-brick with pitched roofs. They have secured entry to an interior hallway. 1995 Akron Street is a two-story building with eight units - one studio and seven one-bedroom units. 1997 Akron Street is a three-story building with 12 units - one studio and 11 one-bedroom units. The units in each building share a floor plan. All units are individually metered for electricity, which is paid by the tenants. There is a central boiler in each building that provides heat and hot water. Each building is master metered for gas and water/sewer, which is paid by the owner and currently included in the rent. Future owners may decide to bill these utilities back to the residents. Some of the units have been updated with vinyl plank flooring, while many still have carpet. There are on-site seller-owned laundry machines that provide additional income for the owner. There are 20 off-street parking spaces and 10 of these spaces have room for a tandem space, for These properties have been well maintained by the same family for almost 30 years. There is rarely any vacancy and many long-term residents. A new owner has the opportunity to take over a turnkey asset with immediate upside in rental income.

FOR SALE DETAILS

PRICE

$2,550,000 USD

PRICE/SF

$182 USD /SF

# OF UNITS

20

PRICE/UNIT

$127,500

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1971

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,761 SF

ZONING

R4, Aurora

APN/PARCEL ID

1823-34-3-07-020

ASK ABOUT THIS PROPERTY

Matt BerkMarcus & MillichapMore Info
720-476-2329

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Matt BerkMarcus & MillichapMore Info
720-476-2329

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.