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13686 E 14th Ave, Aurora, C...

Marcus & Millichap Represents Buyer In $34.4 Million Sale In Aurora, Colorado
SOLDMultiFamily

Marcus & Millichap Represents Buyer In $34.4 Million Sale In Aurora, Colorado

13686 E 14th Ave, Aurora, CO, 80011

$34,400,000

Building Size

Asset Type

MultiFamily

Closing

Nov 20, 2023

AI

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.

Players

Jason Hornik

Marcus & Millichap

Broker

$123.3M

vol

4 deals

Broker

Aurora MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.46%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93