9
See all 9 photos
$5,700,000
Est. payment /mo
58 Beds
58 Baths
40,869 SqFt
New
11852 E 16th Aurora, CO 80010
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 40,869 sqft
Subdivision Nitemare Subd
MLS Listing ID IRE3201174
Bedrooms 58
HOA Y/N No
Year Built 1973
Annual Tax Amount $55,760
Tax Year 2025
Source ires
Property Description
Marcus & Millichap is pleased to present the Elm Grove Apartments, a 59-unit multifamily property located at 11852 E 16th Avenue in Aurora, Colorado. Built in 1973, the property is situated on approximately 1.03 acres and offers a well-balanced unit mix of three studios and 56 one-bedroom apartments. Studio units average approximately 475 square feet, while one-bedroom units average approximately 600 square feet.
The Elm Grove Apartments benefits from an attractive location immediately surrounding the Fitzsimons medical campus, positioned between the Fitzsimons campus and Stanley Marketplace. The property offers a primarily one-bedroom floorplan mix that caters to the area's strong demand from medical professionals, students, and other employment bases associated with the Anschutz Medical Campus. Many units have been renovated with modern shaker cabinetry, quartz countertops, hard-surface vinyl flooring, tile showers, updated vanities, and black appliance packages with microwaves and dishwashers. Additionally, approximately two-thirds of the units feature private balconies, while all one-bedroom units offer walk-in closets.
Current ownership has completed approximately $250,000 of capital improvements over the hold period, including the installation of new electrical panels throughout all units, upgrades to stairways, interior corridors, and unit doors, the addition of an outdoor seating area with covered pergolas, and new property signage. These improvements, combined with the extensive unit renovations, have positioned Elm Grove Apartments as a well-maintained asset with meaningful recent capital investment. The property represents an attractive opportunity to acquire a renovated multifamily asset in a highly desirable Aurora location with convenient access to the Fitzsimons medical campus, Stanley Marketplace, and the broader Denver metro area.
The Elm Grove Apartments benefits from an attractive location immediately surrounding the Fitzsimons medical campus, positioned between the Fitzsimons campus and Stanley Marketplace. The property offers a primarily one-bedroom floorplan mix that caters to the area's strong demand from medical professionals, students, and other employment bases associated with the Anschutz Medical Campus. Many units have been renovated with modern shaker cabinetry, quartz countertops, hard-surface vinyl flooring, tile showers, updated vanities, and black appliance packages with microwaves and dishwashers. Additionally, approximately two-thirds of the units feature private balconies, while all one-bedroom units offer walk-in closets.
Current ownership has completed approximately $250,000 of capital improvements over the hold period, including the installation of new electrical panels throughout all units, upgrades to stairways, interior corridors, and unit doors, the addition of an outdoor seating area with covered pergolas, and new property signage. These improvements, combined with the extensive unit renovations, have positioned Elm Grove Apartments as a well-maintained asset with meaningful recent capital investment. The property represents an attractive opportunity to acquire a renovated multifamily asset in a highly desirable Aurora location with convenient access to the Fitzsimons medical campus, Stanley Marketplace, and the broader Denver metro area.
Location
State CO
County Adams
Community Nitemare Subd
Area Metro Denver
Interior
Heating Baseboard
Exterior
Parking Features Off Street
Garage Spaces 112.0
View Y/N No
Roof Type Other
Garage Yes
Building
Sewer Public Sewer
Level or Stories One
Structure Type Frame
New Construction false
Schools
Elementary Schools Montview
Middle Schools North
High Schools Adams-Arapahoe 28J
School District Adams-Arapahoe 28J
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Private Owner
Listed by Charles Burkhart
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