Newark Apartments
∎
Newark Apartments
Aurora, CO
Available
- Property Type: Apartments
- Year Built : 1962
- Property Size: 37,072 SF / 40 Units
- Price: $8,750,000
Overview
Capstone Companies is pleased to present Newark Apartments:
a 40-unit multi-family community located in Aurora, Colorado. Newark was built in 1962 and has been maintained well by its current ownership, who have a proven value-add program in place. The community is also in a prime location near Fitzsimons Army Medical Center, University of Colorado Hospital, Colorado’s only Amazon fulfillment center, and Denver International Airport. The growing demand for Aurora housing, paired with the plethora of employment opportunities, positions the property for consistent returns and an opportunity to boost annual NOI by 32% through implementation of a value-add program.
Investment Highlights
- No major capital improvements needed therefore capital spent on the property directly increases NOI.
- Located in the path of growth less than one mile from Fitzsimons Medical district with over 35,000 employees and growing.
- Excellent unit mix with approximately half one beds and half two beds and an average unit size over 925 SF.
