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4-Unit Multifamily Asset in Wheat Ridge Sells for $595,000

Posted by Unique News Team on December 2, 2016
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Wheat Ridge, CO  (November 17th, 2016) — Greystone Unique Apartment Group, multifamily division of Unique Properties, Inc., recently represented the buyer of a 4-unit multifamily asset located at 2717 Sheridan Boulevard in Wheat Ridge, Colorado. This off-market transaction sold for $595,000 or $148,750 per unit and closed on November 7, 2016.

2717 Sheridan Boulevard was constructed in 1955 with 4,176 net rentable square feet. The asset has a unit mix of one (1) one-bedroom unit averaging 650 square feet, two (2) two-bedroom units averaging 825 square feet and one (1) three-bedroom unit averaging 900 square feet. Located in a transitioning neighborhood, 2717 Sheridan Boulevard is minutes from Sloans Lake Neighborhood and Historic 25th Avenue. Prior to the sale, the Seller had renovated the Property including new kitchens, bathrooms and hardwood floors throughout all the units. The Buyer was attracted to the location and turn-key condition of the Property and intends to hold long term for strong cash flow.

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