Westminster Multi-Family Complex Trades Hands for $8.4M
Westminster, CO – Marcus & Millichap completed the sale of Edgewood Apartments, a 112-unit multi-family property located in Westminster, CO, according to Richard A. Bird, regional manager of the firm’s Denver office. The asset sold for $8,400,000.
Greg Price, Clayton Primm and JD Lemon, apartment specialists in Marcus & Millichap’s Denver office, had the exclusive listing to market the property on behalf of the seller, a long time out of state owner. Price, Primm and Lemon also procured the buyer, a limited liability company.
Edgewood Apartments is located at 6970 & 6980 Stuart Street in Westminster, Colorado. Price stated, “The buyer saw an opportunity to upgrade units and raise rents, and was attracted to the location being close in proximity to the new light rail station going in at 71st Avenue and Lowell Street”. The property consists of four buildings built in 1974 with all brick exteriors and a central, interior courtyard. This was the buyer’s second 1970’s vintage purchase in Colorado.
Photo credit: Marcus & Millichap