Denver, CO – October 30, 2024 – NorthPeak Commercial Advisors is pleased to announce the sale of 1306 N Elizabeth St., Denver, CO 80206.
Hunter Schaefer and Jack Sherman of NorthPeak Commercial Advisors worked with the buyer and seller in this transaction.
“This sale had uniquely aggressive terms including a 6 day close, all cash, no contingencies, and hard earnest money day one. We were pleased to deliver above market pricing for our Seller at a current 5.03% CAP rate and $372/SF. Additionally, we were able to leverage NorthPeak’s strong marketing platform to internally source another out-of-state 1031 Buyer and deliver a reduced brokerage fee to our Seller.
At NorthPeak, we pride ourselves on winning repeat customers. This was our second transaction this year with this out-of-state Buyer and our third transaction this year with the Seller. This was a lengthy listing process with 15 tours and 6 offers over the course of a full 6 month listing period. The Seller is looking forward to simplifying his investments.”
– Hunter Schaefer, NorthPeak Commercial Advisors.
For more information on this investment or current market conditions, please contact Hunter Schaefer at (925) 989-8930 or Hunter@NorthPeakCRE.com.
SALE HIGHLIGHTS
- Address: 1306 N Elizabeth St., Denver, CO 80206
- Sale Price: $2,250,000
- Close Date: October 30, 2024
- Total Units: 12 ($187,500/Unit)
- Property Size: 6,055 SF ($372/SF)
- Current Cap Rate: 5.03%
- Property Type: Multifamily
