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Unique Apartment Group Represents Lakewood Apartment

Posted by Unique News Team on June 25, 2015
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Unique Apartment Group Represents Lakewood Apartment
Lakewood, CO  (June 18,2015) — 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 a 18-unit apartment complex located at 1020-1030 Carr Street in Lakewood, Colorado.

UAG brokers represented both the undisclosed buyer and undisclosed seller in this transaction. The Property sold for $1,780,000 or $98,888 per unit.

Constructed in 1963, the 12,948 square foot Property consists of two (2) separate buildings. The asset boasts a diverse unit mix containing twelve (12) one bedrooms, four (4) two bedrooms and two (2) three bedrooms. In June 2014 the Property underwent improvements including a new boiler and a new roof. After spending twelve months stabilizing the property, 80% of the rents were brought to market level and the seller was prepared to transition to a larger asset.

The buyer was initially attracted to the Property due to the proximity to the light rail and its location that has experienced a lot of growth and recent improvement. New ownership intends to bring the remaining 20% of the units to market rate and hold the property long term for strong cash flow levels.

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.