Large Updated 11-Unit Sells Near Stanley Market Place
Denver-based commercial real estate brokerage firm Kaufman Hagan recently announced the sale of 1990 Beeler St, a well-maintained interior walk-up apartment near Stanley Market Place and Fitzsimons Medical Campus for $1,419,000.
Kaufman Hagan Broker, Kevin Woolsey represented the Seller in this transaction. “Georgetown, the 11-unit interior walk-up apartment located at 1990 Beeler St. in Aurora offers an attractive investment opportunity in the Denver rental market.
Consisting of 10 well-maintained 1-bedroom units and a single 2-bedroom unit, Georgetown’s recent high-quality cap-ex upgrades, including a new boiler, and electrical panels, effectively minimize capital expenditure requirements.
These enhancements open up the potential for increased revenue by new ownership adjusting rents to market rates. Additionally, its prime location positions the property for both immediate returns and long-term appreciation, making it an enticing investment,” said Woolsey.
NorthPeak Commercial Advisors Brokers 28-Unit Multifamily Property in Leadville
NorthPeak Commercial Advisors announced the sale of 921 Mount Massive Dr., Leadville. The 28-unit, 26,040-square-foot multifamily property sold for $7 million.
Joe Hornstein and Scott Fetter of NorthPeak Commercial Advisors worked with the buyer and seller in this transaction.
“We are definitely seeing more transactions with a creative approach right now,” stated Fetter. “This deal works because the buyer can deliver entry level condo units to a mountain market that desperately needs them. But this was a challenging deal that required a unique combination of the right Buyer and Seller, but also lender and title company. In the end, we’re proud of the work it took to get this deal done in a challenging market.”
“I’d like to extend a special thanks to Victoria Chapman and the rest of the First Integrity Title team for stepping up and taking over the transaction from Fidelity Title and closing in less than 48 hours after initial communication,” stated Hornstein. “I’d also like to thank Travis Sperr with Renovo Financial for arranging financing for the buyers.”
821 22nd St. Sells for $1.5M
Madison Commercial Properties, LLC announced the sale of the Brand Iron Building at 821 22nd Street in Denver. The two-story, 9,163-square-foot office/retail building sold on November 14 for $1,596,000 or $174 per square foot.
Brandon Gouker, managing partner with Madison Commercial Properties, LLC represented the buyer, Colorado Criminal Justice Reform Coalition (CCJRC), in the transaction. Boston Weir and Dexter Degre with Henry Group Real Estate represented the seller, DP Assets, LLC.
Pinnacle Announces the Sale of 2449 W Main St. Littleton
Pinnacle Real Estate Advisors, LLC announced the sale of 2449 W Main St., Littleton. The 1,855-square-foot office building that sold for $908,525 or $489.79 per square foot. Carlos Valencia, represented seller and Peter Sengelmann, represented the buyer in the transaction.
“Seller purchased the property in 2002 for his engineer business then leased out the majority of the building about 10 years ago to The Nook Coffee shop. The seller decided to sell and purchase a retirement home in Florida,” stated Carlos Valencia, advisor with Pinnacle Real Estate Advisors.
“The buyer has been actively looking to acquire assets in downtown Littleton. When we saw this deal hit the market we acted quickly as we know very little trades on Main Street on a regular basis,” stated Peter Sengelmann, vice president with Pinnacle Real Estate Advisors.
For more information, please contact broker Carlos Valencia or Peter Sengelmann.