Virendra Sharma

$1,500,000

0.29 Acres

Aurora, Colorado, 80010

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 HIGHLIGHTSZoning: R-3 (High-Density Residential)MARKET JUSTIFICATION FOR PRICETo justify the seller’s $1.5M expectation, highlight developer-level comps, not residential sales:1. New Construction Sales Near AnschutzTownhomes selling $550K–$750KCondos selling $400K–$600KMulti-unit buildings generating $2,000–$2,800/mo per unit in rent2. Land ScarcityThis is the last available development lot in the neighborhood — scarcity drives premium pricing.3. Institutional DemandThe Anschutz campus population creates permanent, stable demand for housing.4. Developer ROIA 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)