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For Sale31 Days
$1,000,000

1440 Lima Street
Aurora, CO 80010

Commercial For Sale
4,000 Sq. Ft.
0.20 Acre Lot
Denver Property Team

Description for 1440 Lima Street, Aurora, CO 80010

So many options on this multifamily! Currently 5 units, 4, 1 bed units and 1, 2 bed unit, with a basement at the end of the building not currently being utilized. Option to make the basement a part of the 2 bed unit making it into a 4 bed, or, create a whole new unit as it has it’s own entrance into the basement, making it a 6 unit. Currently under rented at $1300/unit. If you turn into section 8, Aurora is at $1800/1 bed unit/month and $3225/4 bed unit with converting the basement. Current cap rate at a $1mil purchase price is over 6%, if you convert the basement to utilize that space, you’ll be around 9.7% cap rate with 30% down, and property management and paying all utilities for section 8. (Docs attached for the City of Aurora’s Section 8 allowances.) ALSO, the duplex NEXT DOOR is also for sale at 1408 Lima St @ $480k! Those are both 2/1 units (that need a little organizing to get back to 2/1 units, current owner adjusted walls for their needs as they lived there). Owner has also talked with the City of Aurora and they’ve expressed that the alley in between the 5 plex at 1440 Lima and the Duplex at 1408 Lima could be workable with developing if you wanted to rezone and build an apartment building. Current lot sizes are 8,800 sq ft and 7,700 sq ft respectively, totalling 16,500 sq ft. Buy one or buy them both! All units are on month to month verbal leases, except for one unit with a lease up the end of February.

Property Details

Listing Details
For Sale
Commercial
Multi-Family
For Sale
REC9773278
$1,000,000
11/14/2024
4,000 Sqft
1956
$1,000,000
$1,000,000
REC042865
Single Family
None
10
Location Information
US
CO
Arapahoe
Aurora
80010
Lima
1440
Street
W105° 8' 38.3''
N39° 44' 19.8''
Exterior Features
No
No
Brick,Frame
Land Info
0.20 Acre
Near Public Transit
Nw
APT 4-8
031071682
Monthly
Residential
Paved
Utilities
Public Sewer
HOA Info
Monthly
5
No
Rental Info
Monthly
Tax Info
LOT 6 ZURCHER SUB 4TH FLG
$4,017
2023
Listing Information
Denver Property Team
Alexander Saldana
RECM3513
Recolorado
$1,000,000
11/14/2024 15:40:19
Cable Available,Sewer Connected,Natural Gas Connected,Electricity Connected
Public

Price History

Source: MLS
DateEventPriceSource
2024-11-14 15:24:05For Sale$1,000,000MLS
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