Arvada, CO (April 13, 2016) — Unique Apartment Group (UAG), multifamily division of Unique Properties, Inc., recently represented the seller and buyer of a 4-unit multifamily asset located at 10311 West 59th Avenue in Arvada, Colorado. After being on the market for less than a week, the Property sold for $585,000 or $146,250 per unit. The transaction closed on April 11, 2016.
10311 West 59th Avenue has a unit mix of two (2) two-bedroom units averaging 850 square feet and two (2) three-bedroom units averaging 1,050 square feet. Each unit has private storage and private patios. The seller purchased the property and renovated the interiors, installed new furnaces and windows. After renovations, the seller was able to increase rental rates by 20%. Located just blocks from Olde Town Arvada and the Gold Light Rail line, the buyer intends to hold the property long term for cash flow.