#160: Deal Analysis - Nine Unit in Aurora

The investment property discussed in this Deal Analysis is a 9 unit apartment building in Aurora near the Anschutz medical complex. Originally it was a 6 unit,  but a previous owner converted it to a 9 unit which was approved by the city. The seller bought this one year before as an apartment flip. The previous owner was in over his head. There were major management and property issues. The current seller rehabbed eight out of the nine units, stabilized rents, and handled utility issues from the six to nine unit conversion.