11852 E 16th Ave, Aurora, CO 80010 For Sale

Marcus & Millichap is pleased to present the Elm Grove Apartments, located at 11852 E 16th Avenue in Aurora. The Elm Grove Apartments is a 59-unit multifamily asset just east of Denver, located in the highly desirable area immediately surrounding the Fitzsimons medical center, situated between the Fitzsimons campus and Stanley Marketplace. The property consists of three studio units and 56 one-bedroom units, which average 475 and 600 square feet, respectively. All units at the Elm Grove Apartments have been renovated, with renovated units featuring modern shaker cabinets, quartz countertops, updated hard surface vinyl flooring, tile showers and new vanities, and all new black appliance packages featuring microwaves, dishwashers, refrigerators, and oven/ranges. Additionally, two thirds of units at the Elm Grove Apartments feature balconies, and all one -bedroom units feature walk-in closets.

Numerous capital improvements have been completed at the Elm Grove Apartments in the last 20 months under current ownership, as well. Current ownership has spent approximately $250,000 since acquiring the property to add all new electric panels to all units, upgrade stairways, interior corridors, and unit doors, add an outdoor seating area with covered pergolas, and add new signage to the property. The Elm Grove Apartments represents an excellent opportunity to acquire a property that has been meticulously renovated and maintained that is ideally situated between the Fitzsimons Medical Campus and Stanley Marketplace.