1709 Paris, Aurora, CO 80010
Local realty services provided by:LUX Real Estate Company ERA Powered
1709 Paris,Aurora, CO 80010
$1,500,000
- 0 Acres
- Lots / Land
- Active
Listed by: virendra sharma
Office: homesmart realty
MLS#:6396245
Source:ML
Price summary
- Price:$1,500,000
About this home
709 Paris St is the only remaining vacant/development-ready lot in this rapidly transforming neighborhood adjacent to the University of Colorado Hospital & Anschutz Medical Campus. Zoned R-3, the site supports high-density residential development, including multi-unit buildings, condos, townhomes, or a mid-rise structure. Existing structure is non-habitable and should be demolished; value is in the land and development potential.
This location offers unmatched demand from medical professionals, students, and hospital staff — making it a prime opportunity for developers seeking high-yield rental or resale projects.
PROPERTY HIGHLIGHTS
Zoning: R-3 (High-Density Residential)MARKET JUSTIFICATION FOR PRICE
To justify the seller’s $1.5M expectation, highlight developer-level comps, not residential sales:
1. New Construction Sales Near Anschutz
Townhomes selling $550K–$750K
Condos selling $400K–$600K
Multi-unit buildings generating $2,000–$2,800/mo per unit in rent
2. Land Scarcity
This is the last available development lot in the neighborhood — scarcity drives premium pricing.
3. Institutional Demand
The Anschutz campus population creates permanent, stable demand for housing.
4. Developer ROI
A 12–20 unit project can easily justify a $1.5M land acquisition when projected:
Gross revenue: $8M–$12M (sales)
Annual rental income: $500K–$800K+ (if held as rentals)...
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Home facts
- Subdivision & Development:MARVEL HOMES SUBD
- Listing ID #:6396245
Structure and exterior
- Lot Features:Corner
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$1,500,000
- Tax amount:$5,178
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