The Vermont Apartments is a prime 8-unit investment opportunity in the heart of Aurora's fast-growing Delmar Parkway neighborhood. This well-maintained multifamily asset combines strong in-place fundamentals with exceptional value-add potential. Each of the eight units has been thoughtfully renovated with updated interiors and modern appliances, offering turnkey appeal for tenants. Major capital upgrades include a 25-year Class 4 impact-resistant roof and a professionally installed radon mitigation system, both completed in 2021. The property features secure building access, on-site laundry, and private basement storage for each unit. With a Walk Score of 83, residents enjoy easy access to nearby restaurants, coffee shops, and grocery stores-enhancing both livability and rental demand. Current rents are below market, and the absence of a utility billback system presents immediate upside for increasing net income. Located just minutes from the Anschutz Medical Campus, the building is perfectly positioned for conversion to mid-term rentals catering to traveling nurses and healthcare professionals, unlocking even greater income potential. The property also benefits from proximity to three major city-led redevelopment projects: the Fitzsimons Village mixed-use transformation, the East Colfax Corridor Revitalization with a planned BRT transit line, and the Havana/11th/Del Mar infrastructure improvement initiative. With Aurora projected to grow by more than 40% by 2050, this property stands at the intersection of long-term appreciation, sustained demand, and smart urban development-making it a standout multifamily opportunity in one of metro Denver's most promising submarkets.
Presented By: RE/MAX Alliance-Boulder; 3036181171
Interior Features for 1391 Lima St
Bedrooms
Total Bedrooms7
Bathrooms
Total Baths8
Other Interior Features
LivingAreaSourceAssessor
Air Conditioning Y/NYes
BasementNone
Fireplace FeaturesNone
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesCommon Area
General for 1391 Lima St
Attached Garage No
Cap Rate7.39
CityAurora
Community FeaturesExtra Storage
Construction MaterialsBrick/Brick Veneer
CoolingRoom Air Conditioner
CountyArapahoe
ElectricElectric
Elementary SchoolKenton
Garage Y/NNo
Gas Y/NNatural Gas
Gross Income131520
HOANo
HeatingRadiator
High SchoolAurora Central
High School DistrictAdams-Arapahoe 28J
Land Lease Y/NNo
LevelsTwo
Living Area UnitsSquare Feet
Lot Size Square Feet6011
Lot Size UnitsSquare Feet
MLS AreaMetro Denver
Middle/Junior High SchoolSouth
Net Operating Income101730
New ConstructionNo
Number Of Units Total8
Operating Expense29790
Possible UseMulti-Family
Property Attached Y/NNo
Property ConditionNot New, Previously Owned
Property SubtypeIncome Property
Property TypeResidential Income
RoofComposition
Senior Community Y/NNo
SewerCity Sewer
Standard StatusActive
StatusActive
Stories2
Subdivision NameAurora Heights
Tax Annual Amount7130
Tax Year2023
Tenant PaysDeposit, Electricity
UtilitiesNatural Gas Available, Electricity Available
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