BrokerageMultifamily

The Modern Apartment Community in Southwest Denver Sells for $41.25M

DENVER – The Modern apartment community located at 6301 West Hampden Street in Denver has sold for $41.25.

Dan Woodward, David Potarf, Matthew Barnett and Jake Young of CBRE represented the seller, Fowler Property Acquisitions of San Francisco. The buyer, Los Angeles-based Jacobson Co., purchased the property in a transaction that closed Nov. 20, 2018.

“The Modern has a great occupancy history and will continue to perform well due to its high visibility location along Highway 285,” said David Potarf, executive vice president at CBRE.

Built in 1979, The Modern is a garden-style multifamily community consisting of 230 one and two-bedroom apartment homes on 8.27 acres.

“The seller had completed a terrific re-branding of the community and renovated sixty percent of the units with new appliances, flooring, paint, light fixtures and hardware, and resurfaced counters,” added Jake Young, first vice president at CBRE.

Community amenities include a pool and sun deck, fitness center, full basketball court, TV lounge/clubhouse and on-site management and maintenance with night patrol. The property is located on the north side of Highway 285, just west of Sheridan Boulevard. Bear Valley Shopping Center is one mile east, which includes a mix of restaurant, grocery and retail services. The Modern is approximately 10 miles southwest of downtown Denver and 12 miles west of the Denver Tech Center.

Photo courtesy of CBRE

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