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1923-1933 Dallas Street Portfolio, Aurora 1923 Dallas Street, Aurora, CO 80010
Property Description
This could be a very lucrative investment opportunity in a bustling redevelopment area of Aurora! Just 2.8 miles from the Anschutz Medical Campus, money is being invested to revamp this North Aurora locale! The current owners have spent the last couple of years updating several units within each building, increasing the rental revenues for these particular units. Finish the remodel on the remaining units to maximize your revenues. Our pro-forma analyses put this at a potential 7% or more cap rate. 1923 and 1933 Dallas Street can be sold together or separately at $1,150,000 each. The site sits adjacent to the Montview Redevelopment District and the proposed Dayton Street concept.
Area Description
North Aurora is undergoing massive redevelopment, and this property could benefit from that long term. 1923-1933 Dallas St is just steps to Montview Park, and right across the way from the Montview and Dayton redevelopment concepts.
Highlights
- Sixteen one-bed/one-bath units ranging from 450-475 square feet
- Many of the units have been thoroughly remodeled, realizing increased rental revenues up to $1,350/month.
- Remodel the remaining units to maximize revenue potential
- There is a 16 space surface lot with a gated entrance for secure parking
- On-site laundry for additional income
- Many of the utilities are reimbursed by the tenants
Full Address: 1923 Dallas Street, Aurora, CO 80010
Listing Type: FOR SALE
Status: Active
Occupancy Rate: 75%
Building Class: C
Zoning: OA-RMU
Region: W-WM
County: Adams County
Property ID: 4076600
Has Sewer: Yes
Has Water: Yes
Has Electric: Yes
Has Waste: Yes
Heating: Yes
Cooling: Yes
Has Gas: Yes
Building Sf: 7,596
Number Units: 16
Number Buildings: 2
Year Built: 1957
Year Renovation: 2022
Number Parking Spaces: 16
Commission Comments: Variable co-op compensation, subject to an acceptable offer
Cap Rate: 3.6%
Tenancy Type: Multi-Tenant
Average Monthly Rent - One bed, one bath: 1200
Consider Exchange: 1
Cash Flow Type: Actual
Cf Op Expenses: $74,626
Pre Tax Cash Flow: $43,712
Cf Effective Gross: $182,874
Cf Debt Service: $45,069
Cf Year: $2,024
Scheduled Income: $20,004,195
Cf Capital Costs: $23,710
NOI: $108,227
Debt Type: Actual
Cf Vacancy: $5