1601-1645 Joliet St
Multifamily | 24 Units | $128,333/unit
Marketing description
MMG Real Estate Advisors is pleased to present the opportunity to acquire 1601–1645 Joliet Street Apartments, a renovated multifamily asset located in Aurora, Colorado. Positioned within a major employment corridor of the Denver metro, the property benefits from proximity to leading healthcare, military, aerospace, bioscience, and logistics employers. With renovated units, a rare two-bedroom-heavy unit mix, and clear potential for additional interior enhancements, the asset offers investors a stable workforce-housing investment with a defined path to incremental upside.
Investment highlights
Strategic Aurora Location Near Major Employment Drivers: Located in Aurora, Colorado, the property benefits from proximity to major Denver metro employment drivers, including the Anschutz Medical Campus/Fitzsimons Innovation Community, Buckley Space Force Base, and growing aerospace, bioscience, and logistics employers. The area has seen continued investment in infrastructure and job growth, supporting strong rental demand.
Large and Growing Denver Metro Submarket with Diverse Workforce: Aurora is a large and growing Denver metro submarket with a diverse workforce and sustained employment growth in healthcare, bioscience, aerospace/defense, and logistics. The renter pool is supported by nearby medical and military employment hubs, helping maintain steady occupancy and long-term demand.
Recently Renovated Units with Additional Upside Potential: All units have been renovated as shown in marketing photos, including LVP flooring and refreshed interior finishes. Exterior improvements include fresh paint and landscaping. While interiors are updated, there remains an opportunity for further enhancement to push rents through additional upgrades to kitchens, fixtures, and finishes.
Rare Two-Bedroom-Heavy Unit Mix Supporting Strong Demand: The property features a desirable and rare two-bedroom-heavy unit mix, consisting of 20 two-bedroom units and 4 one-bedroom units. This configuration supports strong demand and occupancy.
Stable Workforce-Housing Investment with Incremental Upside: The asset is positioned as a stable, renovated workforce-housing investment with a clear path to incremental upside. Key attributes include the rare two-bedroom-heavy unit mix and professionally managed operations, with the opportunity to further elevate interiors and capture additional rent growth.
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