1530 Beeler St, Aurora, CO 80010

Property Description

Nine-unit, single-story apartment building on a 0.29-acre lot in Original Aurora, just north of East Colfax. Built in 1951, the building offers three studios and six 1-bedroom units with an open parking lot, and a garden layout with no interior stairs, elevators or common corridors. The current rent roll totals $106,500 per year ($986 average, $875-$1,100 per unit, 100% occupied as provided by owner). Net operating income is estimated at $50,774, a 5.64% cap rate at list price, with professional management underwritten at 6%; a 5% rent increase supports a pro forma NOI of about $55,429 (6.16% cap). In-place rents run below recent 5+ unit sales in 80010, leaving upside for a value-add buyer. Bus service on East Colfax, with quick access to the Anschutz Medical Campus and Fitzsimons, Stanley Marketplace, I-225 and downtown Denver. Offering memorandum and rent roll available to qualified buyers. Tours by appointment only; please do not disturb tenants. Buyer to verify all information, including unit mix, square footage, zoning, income and expenses.