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36 Units in Longmont Acquired for $4,100,000; Greystone Unique Apartment Group Represents Buyer

Posted by Unique News Team on September 14, 2017
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Longmont, CO (September 13, 2017) — Greystone Unique Apartment Group, multifamily division of Unique Properties, Inc., Colorado’s most experienced, privately held, full-service commercial real estate brokerage firm, recently brokered the sale of a 36-unit multifamily asset located at 321 14th Avenue in Longmont, Colorado. Greystone Unique Apartment Group represented the buyer and the Property sold for $4,100,000 or $113,888 per unit and closed on September 11, 2017.

 

321 14th Avenue consists of two buildings constructed in the early 1970’s. The Property consists of twenty-two (22) one-bedroom units and fourteen (14) two-bedroom units. 321 14th Avenue is located just two blocks from Main Street, an area that has seen significant revitalization and redevelopment during recent years. Prior to the sale, the seller replaced major mechanical systems and started renovating units as they turned. The buyer intends to continue unit renovations and raise rents to market rates. The property was 95% occupied at the time of sale.

 

To schedule an interview with an advisor regarding this transaction or for more information about Greystone Unique Apartment Group, please contact: Phil Dankner at pdankner@uniqueprop.com  or 303.931.0793.

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