1679 Joliet ST Aurora, CO 80010

6.57% CAP RATE on CURRENT FINANCIALS, COMPLETELY RENOVATED WITH HIGH-END FINISH. 1679 Joliet is a well maintained stabilized six-unit multifamily community located in Aurora, Colorado. Built in 1960 and fully remodeled in 2021, the all-brick building with pitched roof consists of five two-bedroom, one-bath units and one large three-bedroom, two-bath unit. The current owner has spent over $650,000 updating the plumbing, electrical sub-panels and wiring, windows, insulation and flooring while installing stainless steel appliances and more. Electricity is individually metered and tenants pay directly to provider, while all other utilities are master metered and billed back. The property features a gated courtyard for tenants to enjoy and six off-street parking spots with ample street parking as well. There is a new income-producing laundry facility on-site providing additional income to owner.

The property is well-situated across the street from Spencer Garrett Park and within walking distance of restaurants, shopping, employment, and public transportation. Tenants benefit from the proximity to high density employment locations such as the Fitzsimons Medical Campus and Central Park Redevelopment which are located within one and 1.5-miles of the property respectively. Fitzsimons Innovation Community, located next to the Medical Campus, is at the epicenter of Colorado job growth in life sciences, which raised $704 million in the first quarter of 2021. With 125-acres of land still to be developed, 1679 Joliet Street is poised to benefit from strong economic job growth in one of the fastest growing industries. With low maintenance requirements and potential appreciation, this cash flowing investment offers strong returns to the future owner.