48-Unit Apartment Building Sold by Marcus & Millichap
Lakewood, CO – Marcus & Millichap recently today announced the sale of Maplewood Apartments, a 48-unit apartment property located in Lakewood, Colorado, according to Richard A. Bird, regional manager of the firm’s Denver office. The asset sold for $5,600,000.
Brian Haggar, apartment specialist in Marcus & Millichap’s Denver office and associate director of National Multi Housing Group, represented the seller, a limited liability company. Haggar also procured the buyer, a limited liability company.
Maplewood Apartments is located at 8101 West 9th Avenue in Lakewood, Colo. in an extremely low vacancy market. Haggar states, “The property is well located in Lakewood. It boasts an excellent unit mix of large two and three-bedroom units and has numerous amenities including a playground, basketball court, on-site laundry and ample off-street parking”. The 45,300-square-foot apartment property is currently at 95 percent occupancy.
Photo courtesy of Marcus & Millichap