Duplex for sale with 2, 2 bed/1 bath units for $480k! Also for sale next door is a 5 unit at 1440 Lima St for $1mil! Possible development play, rental play, house hacking play, lots of potential! City of Aurora Section 8 for a 2 bed is currently $2200/month per unit, and after utilities paid, would still pencil out an 8% cap rate with no property management. The units will need some reconfiguring to turn back into 2, 2 bed units. The current owner has been living there and made it work for their lifestyle by connecting both units together. The development play would involve buying the 5 plex next door and working with the City of Aurora to rezone. (Sellers property disclosure and the City of Aurora's Section 8 allowances in documents attached.)
1408 Lima (MLS #2000119) is a ranch single family home located in Aurora, CO.
This single family home is 1,714 sqft and on a lot of 7,667 sqft (or 0.18 acres) with 4 bedrooms, 2 baths and is 72 years old. This property was listed on 11/14/2024 and has been priced for sale at $480,000.
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Listing information courtesy of: Denver Property Team
