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Baumgarten’s company blames a takeover by Tren de Aragua for the dismal state of Aspen Grove.
One investor told the Denver Post that police had known about the gang problem at Aspen Grove for nearly a year. The investor said the situation got so bad that staff abandoned the site, allowing trash to pile up and the building to go to ruin.
These problems started long before the Venezuelan gang narrative hit the big time. The guy's a slumlord.
Aurora said the allegations are “diversionary tactics” and fabricated narratives. The years-long history of “substantial, longstanding, unresolved code violations,” and uncontrolled crimes committed among and to residents, began in 2020 according to city records — the year after the owner bought the property.
The issues have included rodent infestations, a lack of heat and electricity, sewage backups, trash pile-ups, water leaks and shattered or missing windows,” city officials said.
The “nuisance” letter sent last September to the complex owner and property manager threatened to close down the apartment building specifically for criminal nuisance, pointing to over 100 calls for service to only one building from October 2022 to September of 2023. These included calls for shots fired, stolen cars, trespassing, disturbing the peace, assault, arson, drugs and loitering.
In the comments section it's stated that the property was purchased in 2019 for $12M and the current value is $18M. And something called Gross Rent Roll - is $1.5-$1.6M; estimates are rental income of at least $1.5M/year.
Another article (not linked) states that the owner may have to pay up to $60K for property cleanup and security. He's making well in excess of $10M overall on it, so $60K is chump change.
This is a perfect example of How To Be a Successful Slumlord. Purchase property, neglect property, blame neglect on outside influences, walk away...make BIG $$$$$ ✓