
Fairview Apartments
Aurora, CO
First come, first-served basis
Open to cash and IRA/401k investors
Fill out the form at the bottom of this page to put in your soft reserve.
PROPERTY CHARACTERISTICS
- 100-unit C+ class asset built in 1974
- Attractive unit mix of 1, 2, 3, and 4-bedroom units
- 9 total buildings plus office/laundry facility:
- 5 two-level townhome buildings (3 & 4-bedroom units)
- 4 three-level apartment buildings (1 & 2-bedroom units)
- Large units with 821 average sq ft; range from 590 sq ft
(1-bedroom) to 1,108 sq ft (4-bedroom) - All units are individually metered for electricity
- Townhome buildings have individual HVACs, furnaces, and hot water heaters
- Apartment buildings have wall AC units and central hot water
- All townhome units and a sample of 2-bedroom apartments have in-unit washers/dryers
- Amenities include a picnic areas with park-style barbecues, a playground, a dog park, a community vegetable garden, partial covered parking, and a laundry facility
- Building exteriors are brick and vinyl siding
- Sloped roofs that were replaced in 2020-21
- Income-producing T-Mobile cell tower on site


LOCATION


- Colorado was ranked #5 for Fastest Growing States in the Country in 2019 by the U.S. Census Bureau
- Denver MSA:
- Ranked #2 in 25 Best Places to Live in the U.S. in 2019 by U.S. News & World Report
- Ranked #4 Best State Capital to Live In in 2020 by Wallethub
- Ranked #1 in Highest % of Millennial Newcomers in 2020 by Wallethub
- Ranked #4 Best Place for Business & Careers in 2018 by Forbes
- Ranked #9 in Best Tech Cities for IT Jobs in 2019 by CompTIA
- Aurora (3rd largest city in CO) is approximately 10 miles east of downtown Denver, near several major area employers:
- Aurora VA Medical Center
- CU Anschutz medical campus & Fitzsimons Innovation Community
- Kaiser Permanente
- Buckley Space Force Base
- Denver International Airport
- Lockheed Martin
- One mile from Florida Light Rail station; two miles from Aurora Metro Light Rail station
- Numerous nearby shopping, dining, and recreational options
HIGH-LEVEL BUSINESS PLAN
- Positioned for long-term hold and cashflow with conservative underwriting
- Planned holding time of 3 to 5 years
- Purchase with bridge loan
- Conduct cost segregation study to take maximum depreciation in the year of purchase
- Utilize first-class property management company that has operated the property for nearly 10 years
- Conduct value-add work within two years of purchase, focusing on additional income, curb appeal, and amenities to attract young professionals and upgrade the property to B-minus class
- Limited continued interior renovations
- Install washer/dryer hookups and provide appliances in 2-bedroom and 1-bedroom units where feasible
- Convert basement storage in each apartment building to laundry centers (tenants won’t have to walk across the complex in foul weather)
- Re-purpose current larger laundry room for office expansion and package center
- Add new amenities (e.g., nicer BBQ areas and gas fire pits)
- Install additional income-producing covered parking
- Sell or refinance in year 3 or 4


WAYS TO INVEST
- Cash investment in your name (single or joint)
- Cash investment through an entity (e.g., trust, LLC, or S-corp)
- Investment through a self-directed retirement account (e.g., SD-IRA, Solo 401k, etc.)

OPEN TO ACCREDITED AND SOPHISTICATED INVESTORS ONLY
Having a pre-existing relationship with one of the sponsors.
To be considered an accredited investor, you must satisfy at least one of the following criteria:
A natural person with an income exceeding $200,000 in each of the two most recent years (or joint income of $300,000).
A natural person who has an individual or joint net worth exceeding $1 million, excluding their primary residence, at time of investments.
An entity with over $5 million in assets, or in which all owners are accredited using the criteria above.
Possess a Series 7, 65, or 82 securities license or other verifiable professional credentials that qualify you as an accredited investor.
A sophisticated investor does not qualify as accredited, but has sufficient knowledge and understanding to make an informed investment decision.
