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Multifamily

Eleven8 Apartments

11800 E Colfax Ave, Aurora, CO 80010

Listing Price: $17,500,000

Cap Rate
4.82%
Number of Units
97
GRM
11.49
Occupancy
95.0%
Price/Unit
$180,412
Price/Gross SF
$437.50
Gross SF
40,000

Investment Overview

Eleven8 Apartments represents a unique opportunity to acquire a brand-new, recently completed hospitality to multifamily conversion adjacent to the southwest corner of Fitzsimons medical campus in Aurora. Eleven8 is effectively new construction multifamily and offers investors and future tenants a rare value proposition in the area, as it will fill a void in the market left by the absence of Class B product in the area. Featuring premier, Class A finishes including hard surface countertops, stainless steel appliances, modern shaker cabinets, new hard surface vinyl flooring, tile tub-surrounds, modern fixtures, and much more, interior finishes at the Eleven8 Apartments exemplify that of new construction. Eleven8 Apartments will feature A- finishes inside and out, new fire suppression systems, new landscaping, 37 carports, and much more, making it one of the few Class B properties in the area. The average projected rent at Eleven8 Apartments is $1,231/month, compared to Class A comparable average rent in the immediate vicinity of $1,726/month. Average projected rents at Eleven8 Apartments are offered at a ~$500/month discount to Class A apartments in the area in a comparable location, which represents a monthly savings for tenants of 28 percent and a compelling value proposition.

Investment Highlights

  • Prime Location
  • Proximity to DIA
  • Access to Public Transportation
  • Excellent Visibility

Exclusively Listed By

Multifamily

Eleven8 Apartments

Listing Price: $17,500,000

Cap Rate
4.82%
Number of Units
97
GRM
11.49
Occupancy
95.0%
Price/Unit
$180,412
Price/Gross SF
$437.50
Gross SF
40,000

Investment Highlights

  • Prime Location
  • Proximity to DIA
  • Access to Public Transportation
  • Excellent Visibility

Investment Overview

Eleven8 Apartments represents a unique opportunity to acquire a brand-new, recently completed hospitality to multifamily conversion adjacent to the southwest corner of Fitzsimons medical campus in Aurora. Eleven8 is effectively new construction multifamily and offers investors and future tenants a rare value proposition in the area, as it will fill a void in the market left by the absence of Class B product in the area. Featuring premier, Class A finishes including hard surface countertops, stainless steel appliances, modern shaker cabinets, new hard surface vinyl flooring, tile tub-surrounds, modern fixtures, and much more, interior finishes at the Eleven8 Apartments exemplify that of new construction. Eleven8 Apartments will feature A- finishes inside and out, new fire suppression systems, new landscaping, 37 carports, and much more, making it one of the few Class B properties in the area. The average projected rent at Eleven8 Apartments is $1,231/month, compared to Class A comparable average rent in the immediate vicinity of $1,726/month. Average projected rents at Eleven8 Apartments are offered at a ~$500/month discount to Class A apartments in the area in a comparable location, which represents a monthly savings for tenants of 28 percent and a compelling value proposition.

Exclusively Listed By

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