Denver, CO (February 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 3-unit multifamily Property located at 335 East Arkansas Avenue in Denver, Colorado. The Property sold for $840,000 or $280,000 per unit. Greystone Unique Apartment Group represented the seller and this transaction closed on February 8, 2017.
335 East Arkansas Avenue has 4,123 net rentable square feet and a unit mix of two one bedroom one bathroom units and one three bedroom three bathroom unit. Located in Platt Park, the Property is just blocks from the amenities of South Pearl Street. Prior to selling the Property, the seller replaced the roof, windows and installed hardwood floors throughout. The Buyer intends to capitalize on recent property improvements and excellent location by raising rents to market rates and holding the Property for cash flow.
“The Property was a typical triplex that featured one large unit that drove up the property’s price per door while the price per square foot was commensurate with the market.” Nik MacCarter, Greystone Unique Apartment Group Director