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Downtown Square Apartments Acquired for $2,625,000

Posted by Unique News Team on March 28, 2018
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Colorado Springs, CO (March 28,2018) — 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 Downtown Square Apartments, a 30-unit multifamily asset, located at 425-431 East Willamette Avenue in Colorado Springs, CO. The Property sold off-market for $2,625,000 or $87,500 per unit and closed on March 27, 2018. Zach Hansen of Greystone Unique Apartment Group represented the buyer.

 

The Property consists of two exterior walk-up buildings both constructed in 1974, and each have 12,690 rentable square footage. Downtown Square Apartments contains thirty two-bedroom, one-bathroom units. At the time of sale, two-thirds of the units were renovated and the buyer intends to continue renovations to the remaining units. Located in Central Colorado Springs, the Property is walking distance to local amenities including Downtown, Colorado College, Monument Valley Park and more. The Buyer was attracted to the prime location and rental upside in one of Colorado’s highest demanded markets, Colorado Springs.

For more information please contact Zach Hansen at 303.645.4787