Aurora, CO (January 12, 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 the sale of an 18-unit apartment property located at 1400 Kingston Street in Aurora, Colorado.
UAG represented both the seller and the buyer in this transaction. After 6 months on the market, the property was sold for a record $1,250,000 or $69,444 per unit. The seller, a local partnership, invested significant capital into property improvements, positioning 1400 Kingston as a well-maintained asset while also minimizing deferred maintenance for the purchaser. Improvements include roof renovations, boiler, windows, parking lot and unit interiors.
Constructed in 1957, the asset is a well-maintained, value-add property in close proximity to the Fitzsimmons Medical Campus. Residents of the property enjoy the close proximity to amenities, and access to public transportation.
“This was a great opportunity to buy an apartment in an area that has experienced some growth over the last few years,” stated UAG Broker, Adam Riddle. “The seller did an outstanding job stabilizing the asset and positioning it for a timely sale.”
To schedule an interview with a UAG broker regarding this transaction, or for more information about Unique Properties, Inc., from a corporate standpoint, please contact Natalia Griffin at ngriffin@uniqueprop.com, or call 720.881.6320.
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