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Multifamily

1129 Akron Street

1129 Akron Street, Aurora, CO 80010

Listing Price: $2,200,000

Cap Rate
4.24%
Number of Units
13
Occupancy
95.0%
Price/Unit
$169,231

Investment Overview

1129 Akron Street is a 13-unit multifamily community located in Aurora, Colorado just to the north of the Lowry redevelopment and in close proximity to the Central Park neighborhood and Fitzsimons Medical Campus. The property consists of 11 one-bedroom units and two two-bedroom units, many with hard surface flooring and double-pane windows. Eight of the units have front and rear entrances with small backyards and are individually metered for gas and electricity while the other five units are master metered for gas and individually metered for electricity. Built in 1957, this ā€œUā€ shaped building is primarily a brick and stucco exterior with a pitched asphalt shingle roof and a nice gated courtyard with in-ground sprinkler system. There are 12 off-street parking spaces to the rear of the building. An on-site coin operated laundry facility provides additional income. This property provides a potential buyer with a value-add opportunity by continued renovation and raising rents to market. The growth of the area with the redevelopment of Lowry Air Force Base directly south and the continued strength of the Central Park neighborhood to the north means that apartments in this area will continue to be in strong demand in the future. As the Fitzsimons Medical Campus to the east continues its growth, employment in the area will only increase, making employees there and in supporting businesses that much more likely to reach out into the surrounding area for rentals.

Investment Highlights

  • Strong Upside by Increasing Rent to Market
  • Individually Metered for Electricity, Many for Gas
  • Most Units with Front and Rear Entrances, and Backyards
  • Hard Surface Flooring, Double Pane Windows
  • On-Site Coin Operated Laundry and Off-Street Parking
  • Masonry Exterior with Pitched Roof
  • Desirable "U" Building with Central Courtyard
  • Mature Lawn, Trees, and Scrubs with In-Ground Sprinkler

Exclusively Listed By

Financing By

Multifamily

1129 Akron Street

Listing Price: $2,200,000

Cap Rate
4.24%
Number of Units
13
Occupancy
95.0%
Price/Unit
$169,231

Investment Highlights

  • Strong Upside by Increasing Rent to Market
  • Individually Metered for Electricity, Many for Gas
  • Most Units with Front and Rear Entrances, and Backyards
  • Hard Surface Flooring, Double Pane Windows
  • On-Site Coin Operated Laundry and Off-Street Parking
  • Masonry Exterior with Pitched Roof
  • Desirable "U" Building with Central Courtyard
  • Mature Lawn, Trees, and Scrubs with In-Ground Sprinkler

Investment Overview

1129 Akron Street is a 13-unit multifamily community located in Aurora, Colorado just to the north of the Lowry redevelopment and in close proximity to the Central Park neighborhood and Fitzsimons Medical Campus. The property consists of 11 one-bedroom units and two two-bedroom units, many with hard surface flooring and double-pane windows. Eight of the units have front and rear entrances with small backyards and are individually metered for gas and electricity while the other five units are master metered for gas and individually metered for electricity. Built in 1957, this ā€œUā€ shaped building is primarily a brick and stucco exterior with a pitched asphalt shingle roof and a nice gated courtyard with in-ground sprinkler system. There are 12 off-street parking spaces to the rear of the building. An on-site coin operated laundry facility provides additional income. This property provides a potential buyer with a value-add opportunity by continued renovation and raising rents to market. The growth of the area with the redevelopment of Lowry Air Force Base directly south and the continued strength of the Central Park neighborhood to the north means that apartments in this area will continue to be in strong demand in the future. As the Fitzsimons Medical Campus to the east continues its growth, employment in the area will only increase, making employees there and in supporting businesses that much more likely to reach out into the surrounding area for rentals.

Exclusively Listed By

Financing By

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