1733 Paris St, Aurora, CO 80010
8 Unit Apartment Building | $1,035,000 ($129,375/Unit) | 7.50% Cap Rate | Aurora, CO 80010
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,035,000
- Property Type
-
Multifamily
- Square Feet
- 4,368 SF
Listing Contacts
Clayton Primm
Verified Profile
Matt Berk
Verified Profile
- Property Info
Property Overview
1733 Paris Street is an eight-unit apartment building well-located just one block from the Fitzsimons / Anschutz Medical Campus, which employs over
40,000 people. It has four garden-level units and four upstairs units, all of which are one-bed /one-bath units. The units at Paris Street include enhanced cabinetry, flooring, light fixtures, and paint. The grounds are xeriscaped and the building has a new roof. The building is heated by a central boiler and has energy efficient double-paned windows. There is space in the building to add a community laundry facility for residents, which would provide additional income to the new owner. There are eight off-street parking spaces to the rear of the property. Entry is through secure front and back doors.
Built in 1950, 1733 Paris Street offers residents a prime location next to Fitzsimons / Anschutz Medical Campus and the rest of the Fitzsimons Innovation
District as well as surrounding development. This is a value-add opportunity with an achievable 7.50%+ market capitalization rate though improved
operations and increasing rents to market. Given demand from traveling nurses at throughout the medical facilities at Fitzsimons, this creates option
to convert leases to mid-term rentals. Mid-term rental rates typically increase monthly income by twenty percent.
40,000 people. It has four garden-level units and four upstairs units, all of which are one-bed /one-bath units. The units at Paris Street include enhanced cabinetry, flooring, light fixtures, and paint. The grounds are xeriscaped and the building has a new roof. The building is heated by a central boiler and has energy efficient double-paned windows. There is space in the building to add a community laundry facility for residents, which would provide additional income to the new owner. There are eight off-street parking spaces to the rear of the property. Entry is through secure front and back doors.
Built in 1950, 1733 Paris Street offers residents a prime location next to Fitzsimons / Anschutz Medical Campus and the rest of the Fitzsimons Innovation
District as well as surrounding development. This is a value-add opportunity with an achievable 7.50%+ market capitalization rate though improved
operations and increasing rents to market. Given demand from traveling nurses at throughout the medical facilities at Fitzsimons, this creates option
to convert leases to mid-term rentals. Mid-term rental rates typically increase monthly income by twenty percent.
Property Details
- Class
- C
- Year Built
- 1950
- Stories
- 2
- Lot Size (sq. ft)
- 6,534 SF
- Units
- 8
Highlights
- Value-Add Opportunity; 7.50%+ Projected Cap Rate
- High Demand Rental Market; 20% Rental Upside
- Proximity to Major Employers Including Fitzsimons, DIA, & Stanley Marketplace
- Secured Entry; All One Bed | One Bath Units
- 1-to-1 Off-Street Parking Ratio
- Low Maintenance Brick Building with Zero Landscaping
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].