Marcus & Millichap Represents Buyer In $34.4 Million Sale In Aurora, Colorado
SOLD
$34,400,000
Colorado
See Similar DealsMultiFamily
SOLD
Marcus & Millichap Represents Buyer In $34.4 Million Sale In Aurora, Colorado
13686 E 14th Ave, Aurora, CO, 80011
See Similar DealsMultiFamily
Summary
COLORADO
Asset Type:MultiFamily
Transaction Type:Sale
The Fitz on 14th is an apartment property located at 13686 E 14th Ave, Aurora, CO 80011. This community was constructed in 1973 and comprises 176 apartments, including 18 studios and 158 one-bedroom units. The property was sold for $34,400,000.00, equating to $195,455 per unit. Notable amenities include a resort-style pool, barbecue/picnic area, playground, dog park, on-site leasing office, laundry facilities, and a fully equipped workout room.
Summary of transaction details:
- Property Type: Apartment
- Transaction Amount: $34,400,000.00
- Address: 13686 E 14th Ave, Aurora, CO 80011
- Market: Aurora
- Buyer: Undisclosed
- Seller: Undisclosed
- Buyer's Rep: Greg Price-Marcus & Millichap, Jason Hornik-Marcus & Millichap
- Year Built: 1973
- Total Units: 176
- Unit Mix: 18 studios and 158 one-bedroom units
Jason Hornik and Greg Price of Marcus & Millichap’s Denver office represented both the buyer and seller in this transaction, facilitating the deal for this apartment community.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,834,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$122,215.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$163,073.55
Annual Debt Service$1,956,882.60
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