Apartment Building Adjacent to Loretto Heights Sells for $11M
DENVER – Nexus Commercial Realty, LLC has closed on the sale of Amherst Apartments, an 81 unit, 58,003-square-foot building for the sale price of $11,100,000. The property is located at 2775 S. Federal Blvd., Denver, adjacent to the Loretto Heights redevelopment.
Adam Riddle of Nexus represented the Seller, Vukota Amherst Apartments, LP, Jason Koch represented the Buyer, PARS LLC.
The building has a great mix of 1-2 bedroom units. On the grounds, you will also find an on-site leasing office, playground, clubhouse, and laundry facilities.
Amherst Apartments is located in South Harvey Park of Denver, conveniently located by schools such as Gust Elementary, Henry World School and John F Kennedy High School. The location is also home to great retailers like Walmart, and Kohls and amazing local fare.
The buyer plans on updating the remaining units and realizing the continual rent growth on the area.
Nexus is a full-service firm for the Multifamily commercial real estate industry in Denver. The firm specializes in acquisitions, dispositions, seller rep, buyer rep, and advisory services.
Photo courtesy of Nexus