Meritage Homes buys 146 lots in Aurora for $3.15 million

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Arapahoe County

Property Location: SWC E. Alameda Ave & Airport Rd, Aurora

Property Description: 146 vacant lots (paper platted)

Land Size: 32.818 acres with 146 lots (84 detached single-family with average of 6,098.5 sf and 62 duplex lots with an average of 3,095 sf)

Sales Price: $3.15M, or $2.20 per sf, or $21,575 per lot

Reception No.: D8035086

Closing Date: 4/10/18

Grantor: Tollgate Properties LLC, Lisa Levy, mgr.

Grantee: Meritage Homes Colorado Inc., Tim Buschar, mgr., 303-406-4309

Comments: Lots 1-13, Block 1, Lots 1-5, Block 2, Lots 1-22, Block 3, Lots 1-24, Block 4, Lots 1-20, Block 5, Lots 1-20, Block 6, Lots 1-26, Block 7, Lots 1-16, Block 8, Tracts A through V, East Creek Subdivision, Filing No 1, County of Arapahoe. See file plat reception No. D8034315. There will be 84 detached homes and 31 duplex buildings. The 84 detached lots range from 5,720 sf to a high of 7,453 sf. The 62 duplex lots range from 2,805 to 4,335 sf. Nineteen of the duplex lots are 2,805 sf while 16 lots are 3,230 sf. Thus, 44 of the 84 lots are at 5,720 sf. The total land area that is buildable contains exactly 16.234 acres, with 8.99 acres of open space, greenbelt (including 2.99 acres of detention pond area), and 7.594 acres of roads and right of way. There are 336 parking spaces allowed for the single-family detached area (11.829 acres, 7.10 d/u per acre) and 186 spaces for the duplex area (4.405 acres, 14.075 d/u per acre), with a weighted average of 8.99 dwelling units per acre.

Comp of the Day is provided by John V. Winslow, president of Winslow Property Consultants. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or [email protected]

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