15500 E 13th Avenue

Aurora, CO 80011

Incomes Property  $3,500,000  Sold

01-10-2019 10:13am

Property Description

Heritage House Apartments is a 28-unit apartment built in 1972, it is situated on a large 1.91 acres with mature well-maintained landscaping and in-ground irrigation. The property has convenient access to public transportation, restaurants, shopping, and employment. It is located 1.5 miles to the east is University of Colorado Hospital and Medical Campus. This property consists of three all brick buildings, each with a pitched roof (five years old) and double-paned windows. The buildings have interior hallways with secured entry. The unit mix consists of three studio units (450sf) and 25 1 bed/ 1 bath units (575sf). There is an on-site coin operated laundry in each building that provides additional income to the owner. The property has 62 off-street parking spaces. Heritage House has a strong occupancy history providing a stable source of income and is a well maintained turn-key asset. Although not required, financing is assumable at 4.02% fixed for the next 3.5 years.

Listing Details

MLS#
8742207
MLS Originator
REcolorado (Denver)
Off Market Date
09-11-2018 12:00am
Original Price
$3,600,000

Property Details

Property
Income
Property Subtype
Income
Status
Sold
Status Conditions
None Known
Last Update
01-10-2019 10:13am
Bedrooms
28
Bathrooms
28
SqFt
20088
Year Built
1972
Der PSF Total
174.23

Map

Property Level and Sizes

SqFt Lot
83199.00
SqFt Finished
20088
SqFt Above
20088

Financial Details

Sold Price
$3,500,000
Previous Year Tax
$10,199
Terms and Conditions
Cash, Conventional, Qualified Assumption
Owner Paid Utilities
Gas,Insurance,Lawn Service,Maintenance,Property Tax,Trash,Water
Transaction Type
For Sale

Interior Details

Interior Features
Double Pane Windows, Security Entrance
Appliances
Refrigerator (Kitchen), Stove/Range/Oven
Cooling
Air Conditioning-Individual
Heating
Baseboard, Hot Water, Radiant
Heating Fuel
Gas
Utilities
Cable TV, Internet Access (Wired), Telephone

Room Details

Laundry Availability
Coin-operated,Shared Laundry in Building

Exterior Details

Features
Professional Landscaping, Sprinkler System
Base Floor Plan
Block Wall,Concrete Wall
Base Size
None
Parking Spaces
1
Parking Features
Driveway-Asphalt
Vehicle Spaces
62
Type
# of Space
L x W
Description
Parking Lot
62
-

Exterior Construction

Building Type
5+ Plex (all units),Low Rise (all units)
Structure
Multi-Story
Roof
Composition Shingles
Construction
Brick
Exterior Features
Professional Landscaping, Sprinkler System
Construction Method
Brick,Frame
Builder Source
County Records

Schools

School District
Adams-Arapahoe 28J

Condominium Projections

Annual Actual Expenses
96511
Annual Projected Expenses
100191
Annual Actual Income
302590
Annual Projected Income
332881
Annual Actual Net Income
206079
Annual Projected Net Income
232690
Unit Furnished
0

Land Details

PPA
1832460.73
Lot Width
0.00

Contact Agent

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