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Aurora 4plex Portfolio - 2 of 2 1193 Akron St 4 Unit Apartment Building $590,000 ($147,500/Unit) 7.50% Cap Rate Aurora, CO 80010
INVESTMENT HIGHLIGHTS
- Denver Metro 4plex under $600k.
- Value-add potential to renovate units for more income.
- 3 of the 4 Units at $1100 which is at/near market rents.
EXECUTIVE SUMMARY
Rare value-add opportunity for a currently cash flowing investment property in the Denver Metro! This is a fully occupied cash-flowing 4plex with four 1bed/1bath units and a common area laundry for potential additional laundry income. Here's where the value-add comes into play: rents were only $3,673 but will be $4,140 by November 1. Three units will be $1,100 and the last unit, currently $840/month, comes due 1/31/25. In current rent-able but dated condition, market rents are $1100-1200/month for 1-bedroom in the area or significantly more if the units were updated. Conveniently located with strong rental demand, these properties offer steady income potential. We have done the work to increase rents for you, now is the time to act to get a cash-flowing 4plex for a low price. We originally had 3 side-by-side 4plexes with 1183 Akron, 1193 Akron, and 8960 E 12th, which already sold for $620k on 6/25/24.
FINANCIAL SUMMARY (PRO FORMA - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $590,000 | Building Class | C |
| Price Per Unit | $147,500 | Lot Size | 0.22 AC |
| Sale Type | Investment | Building Size | 2,130 SF |
| Cap Rate | 7.50% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1955 |
| Property Subtype | Apartment | Parking Ratio | 1.88/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-4, Aurora | ||
| Price | $590,000 |
| Price Per Unit | $147,500 |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 2,130 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1955 |
| Parking Ratio | 1.88/1,000 SF |
| Zoning | R-4, Aurora |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | $11,640 | 533 |
1 1
Bike Score®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 1973-03-2-24-011 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $31,155 |
PROPERTY TAXES
Parcel Number
1973-03-2-24-011
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$31,155
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Aurora 4plex Portfolio - 2 of 2 | 1193 Akron St
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