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Multifamily

1634 Boston Street

1634 Boston Street, Aurora, CO 80010

Listing Price: $875,000

Cap Rate
5.59%
Number of Units
6
Occupancy
95.0%
Price/Unit
$145,833

Investment Overview

1634 Boston Street is a turn-key six-unit multifamily community located in northern Aurora with close proximity to Fitzsimons Medical Campus, Lowry, Central Park, and the Stanley Marketplace. This property is deeded affordable with all units rent restricted at fifty-percent (50%) of AMI. Built in 1961, this all-brick building was completely renovated in 2014 with new double-pane windows, new pitched roof, new electrical, new plumbing, and a new high efficiency boiler. All units are large two-bedroom / one-bath apartments (800+sf) which were also completely renovated in 2014 with new hard surface flooring and all new kitchens and bathrooms. There is an on-site laundry room with coin-operated machines (CSC Lease) for additional income, and five off-street parking spaces. Gas, water, and sewer are master metered and electricity is individually metered. Property has been xeriscaped with minimal exterior maintenance required. The restrictive covenant expires January 15, 2030, at which time the rent may be adjusted to market rate. Low income housing income and rent limits are published by HUD annually.

Investment Highlights

  • Turn-Key Six-Unit Multifamily Building, All Large Two Bedroom Units
  • Completely Renovated in 2014, Interior and Exterior
  • Income/Rent Restricted at Fifty Percent (50%) AMI Until 2030
  • Low Maintenance All-Brick Exterior with Pitched Roof
  • High Efficiency Boiler; Double-Pane Windows
  • On-Site Laundry; Off-Street Parking Spaces
  • Central Location with Close Proximity to Local Amenities

Exclusively Listed By

Financing By

Multifamily

1634 Boston Street

Listing Price: $875,000

Cap Rate
5.59%
Number of Units
6
Occupancy
95.0%
Price/Unit
$145,833

Investment Highlights

  • Turn-Key Six-Unit Multifamily Building, All Large Two Bedroom Units
  • Completely Renovated in 2014, Interior and Exterior
  • Income/Rent Restricted at Fifty Percent (50%) AMI Until 2030
  • Low Maintenance All-Brick Exterior with Pitched Roof
  • High Efficiency Boiler; Double-Pane Windows
  • On-Site Laundry; Off-Street Parking Spaces
  • Central Location with Close Proximity to Local Amenities

Investment Overview

1634 Boston Street is a turn-key six-unit multifamily community located in northern Aurora with close proximity to Fitzsimons Medical Campus, Lowry, Central Park, and the Stanley Marketplace. This property is deeded affordable with all units rent restricted at fifty-percent (50%) of AMI. Built in 1961, this all-brick building was completely renovated in 2014 with new double-pane windows, new pitched roof, new electrical, new plumbing, and a new high efficiency boiler. All units are large two-bedroom / one-bath apartments (800+sf) which were also completely renovated in 2014 with new hard surface flooring and all new kitchens and bathrooms. There is an on-site laundry room with coin-operated machines (CSC Lease) for additional income, and five off-street parking spaces. Gas, water, and sewer are master metered and electricity is individually metered. Property has been xeriscaped with minimal exterior maintenance required. The restrictive covenant expires January 15, 2030, at which time the rent may be adjusted to market rate. Low income housing income and rent limits are published by HUD annually.

Exclusively Listed By

Financing By

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