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8-Unit Multifamily Asset Acquired for $1,320,000

Posted by Unique News Team on April 27, 2017
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Denver, CO (April 24, 2017) — Greystone Unique Apartment Group, the multifamily division of Unique Properties, Inc., Colorado’s most experienced, privately held, full-service commercial real estate brokerage firm, recently brokered the sale of an 8-unit multifamily asset located at 807 East 5th Avenue in Denver, Colorado. The Property sold for $1,320,000 or $165,000 per unit and closed on April 14, 2017.

807 E 5th Ave

807 E 5th Ave

807 East 5th Avenue is a 5,274-square foot property constructed in 1954. The Property consists of eight (8) one-bedroom units averaging 660 square feet. The Property was in excellent condition at the time of the sale, however, the rents were grossly under market averages. Centrally located in Denver, the Property is within minutes from Downtown, Cherry Creek Shopping District, and the Denver Country Club. The Buyer was attracted to the prime location and turn-key condition of a rare and unique apartment asset in one of the hottest submarkets in Denver with significant room to raise rents.

To schedule an interview with an advisor regarding this transaction or for more information about Greystone Unique Apartment Group, please contact Niklas MacCarter at nmaccarter@uniqueprop.com, 303.645.4785.