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Lakewood & Wheat Ridge Multifamily Assets Acquired; High Price Per Unit in Both Submarkets

Posted by Unique News Team on October 6, 2017
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Wheat Ridge & Lakewood, CO (October 7, 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 12-units located at 2504 Quay Street In Lakewood and 4630 Pierce in Wheat Ridge. The Properties sold for $2,020,000 and closed on October 4, 2017.
2504 Quay Street, a 6-unit asset, was constructed in 1959 and sold for $172,500 per unit or $1,035,000. Located in the popular Edgewater district, the Property is blocks from Sloans Lake, Historic 25th Avenue, and West Colfax Amenities. The Property consists of six (6) two-bedroom units, shared backyard space, on-site laundry and reserved parking. All units were in great condition with hardwood floors, modern backsplash in kitchens, newer appliances and new interior paint.

 

4630 North Pierce Street, a 6-unit asset, was constructed in 1957 and sold for $164,166 per unit or $985,000. Located in Wheat Ridge, the Property neighbors Lakeside Amusement Park, Interstate 70, and Wadsworth Boulevard. Within a two-mile radius from the Property, there continues to be an increase in multi-family and commercial development projects.  The property consists of six (6) two-bedroom units, backyard space, on-site laundry and reserved parking.

 

“Both properties were marketed for a very short amount of time and sold for record high prices per door in their respected neighborhoods. These factors continue to prove that the multifamily market is still booming and highly demanded.” Brandon Kaufman

 

To schedule an interview with an advisor regarding this transaction or for more information about Greystone Unique Apartment Group, please contact: Brandon Kaufman at bkaufman@uniqueprop.com or 720.638.5527.

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