Denver, CO (April 12, 2016) — Unique Apartment Group (UAG), multifamily division of Unique Properties, Inc., recently represented the seller of a 5-unit multifamily asset, South Josephine Brownstones, located at 2050 South Josephine Street in Denver. Located blocks from the University of Denver, the Property sold for $2,090,000 or $418,000 per unit. The transaction closed on April 11, 2016.
2050 South Josephine Street has 10,975 net rentable square feet and consists of five individual town homes that have the potential to be converted to condominiums. The Property has a unit mix of one (1) two bedroom townhome averaging 2,039 square feet and four (4) three bedroom townhomes averaging 2,234 square feet. Given the age, location and interior finishes of the Property, the buyer saw a clean, low maintenance and easy to run asset. South Josephine Brownstones was newly constructed in 2007 and well maintained by the previous owner. Located blocks from the University of Denver and Interstate 25, the townhomes boast a 97% occupancy rate. Each townhome has condo quality interiors with granite countertops, large bedrooms, elevators and private garages.