Fairview Apartments

Aurora, CO

First come, first-served basis

Open to cash and IRA/401k investors

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

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

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

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.)

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.