BrokerageMultifamily

Apartment Complex in Lakewood Sells for $1.87M

Sheridan Station Flats located at 1315 Sheridan Street in Lakewood, has sold for $1,870,000.

The Sheridan Station Flats is a 15-unit apartment complex that was recently constructed. The complex includes an exterior walkup with private off-street parking and short and long-term bike storage. The 485-square-foot one-bedroom/one-bathroom units include granite countertops, hardwood floors, stainless steel appliances, balconies and in-unit washer and dryers.

The seller, D&E LLC and the buyer, Sheridan Investors LLC were represented by Brian Haggar, first vice president investments and Peter Standley and Boomer Beatty, senior associates in Marcus & Millichap’s Denver office. By utilizing the firm’s brokerage platform, they were able to connect a local experienced buyer with a smaller local developer.

“The West Colfax and Sloan’s Lake submarket is pushing development across Sheridan into Lakewood, and we have also seen a huge push from developers along the light rail corridor that stretches from Union Station out to Lakewood. In addition, this area is along the light rail where a number of developments are continuing to pop up and improve the area,” said Beatty.

The property was sold pre lease-up and pre-certificate of occupancy.

Photo courtesy of Marcus & Millichap

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