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
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