1733 Paris St Aurora, CO 80010

Listing details for 1733 Paris St, Aurora, CO 80010 : VALUE ADD OPPORTUNITY!!! Eight unit apartment building one block from the Fitzsimons / Anschutz Medical Campus. All units are 1 Bed/1 Bath, four garden-level units and four upstairs units, many updated with vinyl plank flooring. The grounds are xeriscaped and the building has a NEW roof. The building is heated by a central boiler, master metered for gas and electric, tenants are bill $100 per month for utility use. 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 6.60%+ market capitalization rate though improved operations and increasing rents to market, neighboring building is renting the same 1 bed unit for $1,300 per month. 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.