AURORA, CO-Small multifamily rental buildings can make good investments, as a recent local sale demonstrated. Local investor Thor Kieser recently sold his 29-unit apartment building at 1612 Paris St. to Victor Bui for $1.55 million.

That is 73.4% more than the $894,000 paid for the project, built in 1961, according to public records examined by It is also 50.4% more than the appraised value for tax purposes of $1.03 million, records show.

The property consists of three studio units, 12 one-bedroom, one-bath units, 11 two-bedroom, one-bath units and three three-bedroom, one-bathroom units. The transaction was handled by Jeffrey W. Johnson and Matthew J. Ritter of Denver-based Unique Properties LLC., a company that specializes in smaller deals.

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