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Five Points Apartment Acquired at Neighborhood Record High Price per Unit

Posted by Unique News Team on June 25, 2015
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Denver, CO  (June 15, 2015) — Unique Apartment Group (UAG), multifamily division of Unique Properties, Inc., Colorado’s most experienced, privately held, full-service commercial real estate brokerage firm, recently brokered both sides of an 18-unit apartment complex located at 3318-3352 High Street in Denver, Colorado.

UAG brokers represented both the undisclosed buyer and undisclosed seller in this transaction. The Property was purchased for $2,400,000, or $133,333 per unit – a neighborhood record high.

“Denver Metro has been ranked as number 3 in Top 10 metro apartment markets in the United States for rent growth this summer – it’s not surprising that we see this effecting the price per door,” commented UAG Broker,  Nik MacCarter.

Constructed in 1955, the 17,280 square foot property consists of three (3) separate buildings. Each building contains six (6) large, two (2) bedroom, one (1) bathroom units of condo-like quality. Located in the up and coming Five Points neighborhood, the seller capitalized on the booming apartment market climate.

The new owner plans to hold the Property long term, while the north eastern section of Denver stabilizes. They also intend to raise rents to market level prices, profit from the healthy cash flow levels and wait for surrounding properties in the neighborhood appreciate in value.

To schedule an interview with a Unique Apartment Group broker regarding this transaction or for more information about Unique Properties, Inc., from a corporate standpoint, please contact Natalia Griffin at ngriffin@uniqueprop.com, 720.881.6320.