450-unit Aurora apartment complex sells for $104,444 per door – Colorado News

450-unit Aurora apartment complex sells for $104,444 per door – Colorado News

Arapahoe County

Address or Location: 9913 E. First Ave., Aurora

Improvements: 228-unit, three-story apartment complex with four buildings, 150,720 sf plus 4,452-sf clubhouse/office, wood siding construction; 222-unit apartment with five buildings, 149,769 sf, YOC 1972 (total 450 units, 300,489 sf)

Land Size: 14.46 acres

Date of Recording: 7/13

Reception No. D7080986

Price: $47M, or $156.41 psf, or $104,444 per door

Grantor: Fairways Owner LLC, James Eric Frank, pres.

Grantee: Fairways at Lowry Aurora, Todd Jaycox, mgr.

Financing: $9.82M payable to Wells Fargo Bank, NA

Comments: The one-bedroom units contain 470 sf and rent for $970 per month, and the two-bedroom units contain 690 sf and rent for $1,225 per month. See APN: 1973-10-1-16-006, 007. This property sold in March 2014 for $29.5M and the value grew to $47 million, or by 59.32%.

Comp of the Day is provided by John V. Winslow, president of Winslow Property Consultants. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.

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