Lakewood, CO (March 2, 2016) — Unique Apartment Group (UAG) recently represented the seller and buyer of an 8-unit multifamily asset located at 220 South Teller Street in Lakewood, Colorado. After receiving multiple offers from qualified buyers, the Property sold for $1,020,000 or $127,000 per unit. The transaction closed on March 1, 2016.
220 South Teller Street has a unit mix of four (4) one-bedroom units averaging 925 square feet and four (4) two-bedroom units averaging 800 square feet. The Property’s prime location and recent property improvements attracted the local, undisclosed buyer who intends on converting the units into condominiums. Located walking distance to the Belmar District, tenants enjoy a wide variety of restaurants, shopping and entertainment. Prior to selling, the Seller invested in vital property improvements including adding a new boiler, roof and windows.