Property Description

1467 Joliet Street is a 9-unit multifamily property in Aurora offering a diverse unit mix of 1 studio, 4 one-bedrooms, 3 two-bedrooms, and 1 three-bedroom unit. The ranch style building also features 9 off street parking spaces and private entrances for each unit.Located in North Aurora, the property is just minutes from Stanley Marketplace and the UC Anschutz Medical Campus. The location also stands to benefit from the East Colfax BRT project, which is bringing new stations, corridor amenities, and pedestrian improvements to the area.Offered at $900,000, the property presents an accessible basis with clear operational upside and the potential to achieve an 8%+ cap rate. New ownership will have the opportunity to implement additional improvements, enhance interiors, tighten operations, and continue driving revenue over time.HIGHLIGHTS- Priced below nearby sales comparables and active listings- Diverse unit mix from studio to three-bedroom units, appealing to a broad tenant base- Side-by-side ranch-style apartment building with private entrances and a functional layout- Located in North Aurora, just minutes from the Anschutz Medical Campus, Stanley Marketplace, and Lowry- Value-add opportunity positioned to benefit from continued investment along the East Colfax corridor, including the East Colfax BRT project and related pedestrian and amenity improvementsAMENITIES- Private entrances per unit- Individually metered for electric - tenants pay directly (GE panels)- 1:1 parking ratio- LVP flooring in most units- Functional, open floor plans

Property Features