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Club 14 & Avenida Park Apartments Sell for $11,046,000; Two Congress Park buildings trade for the first time in 50 Years

Posted by Unique News Team on December 28, 2017
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Denver, CO (December 28, 2017) – Greystone Unique Apartment Group is pleased to announce the sale of Club 14, a 34-unit asset located at 1380 Steele Street and Avenida Park, an 18-unit asset located at 1300 Adams Street. The 52-unit portfolio sold for a total of $11,046,000. Patrick Henry represented the seller and Brandon Kaufman represented the buyer in these transactions and both were sold on December 28, 2017.

 

Club 14 Highlights:

  • Sold for $7,207,000 or $211,970 per unit
  • Six (6) Studios, Eleven (11) 1 Bedroom/1 Bathrooms, Twelve (12) 2 Bedroom/2 Bathroom & Five (5) 2 Bedroom/1 Bathroom
  • YOC -1963

 

Avenida Park Highlights:

  • Sold for $3,839,000 or $213,277 per unit
  • Six (6) 1 Bedroom/1 Bathroom and Twelve (12) 2 Bedroom/1 Bathroom
  • YOC – 1960

 

Club 14 and Avenida Park were both sold off-market to a local Colorado investor that wanted to capitalize on the prime Congress Park location and value add opportunity. Well located in the Congress Park neighborhood, the properties are within a block of each other and surrounded by the redevelopment project on Colorado Boulevard and the amenities of East Colfax Avenue. This is the first time the properties have traded hands in over 50 years and new ownership intends on a complete rehab project of the units, exterior facades and mechanical systems.

 

For more information, please contact:
Brandon Kaufman (720) 638-5527 | bkaufman@uniqueprop.com

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