La Fontaine

1325 Idalia Court Aurora, CO 80011

1325 Idalia Court, Aurora, CO, 80011
1325 Idalia Court, Aurora, CO, 80011
FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$5,460,000
Last Verified:
Aug 06, 2020

Highlights

  • Great Location
  • 49 Parking Spaces - More Than One Per Unit
  • Opportunity To Raise Rents - Over $100 Below Market
  • Create Additional Revenue With Utility Bill-Back System
  • Exterior Walk-Up
  • Located On A Quiet Dead-End Street
  • Offered Free And Clear - Historically Low Interest Rates

Description

Greystone Unique Apartment Group is pleased to present to qualified investors, the opportunity to purchase La Fontaine, a 42-unit apartment community. Located at 1325 Idalia Court in Aurora, Colorado, the property was built in 1973 and consists of 32 one-bedroom units and 10 two-bedroom units. La Fontaine is a value-add opportunity with rents averaging over $100 below market and the additional opportunity to recapture utility costs with an expense reimbursement plan. The property is in close proximity to the Anschutz Fitzsimons Medical Campus and Buckley Air Force Base. La Fontaine offers investors an adequate initial yield, with the opportunity to achieve double-digit cash-on-cash returns.

La Fontaine is located in Aurora, Colorado, directly off of Colfax Avenue, one of the major east-west arterial streets in the immediate area. Colfax Avenue leads all the way to Downtown Denver and the State Capitol. There is a plethora of dining and shopping options nearby.


Year Built: 1973
Building Size: 25104.0sq ft
Lot Size: 0.7 acres

Map of 1325 Idalia Court, Aurora, CO, 80011

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.