Just Sold: 206-Unit Parkview Terrace Apartments

Thornton, CO – July 1, 2021 – NorthPeak Commercial Advisors, LLC is pleased to announce the sale of Parkview Terrace Apartments in Thornton, CO.

Advisor Keith Hardy and Principals Joe Hornstein & Scott Fetter (NorthPeak Commercial Advisors) represented the Buyer in this transaction.

“This was a home run for our Buyer who recognized a great opportunity to acquire a pride of ownership property from a long-term owner in a rapidly improving location. The Buyer plans to take the property to the next level by remodeling unit interiors and increasing cashflow.” – Keith Hardy

For more information on this investment or current market conditions, please contact Keith Hardy at 303-396-9292 or Keith@NorthPeakCRE.com.

SALE HIGHLIGHTS

Sold Date: July 1, 2021
Sale Price: $33,250,000
Property Type: Multifamily
Address: Parkview Terrace Apartments | 1300 Milky Way, Thornton, CO 80260
Number of Units: 206 | Price Per Unit: $161,408
Property SF: 182,128 SF | Price Per SF: $183
Cap Rate: 3.81%

About Parkview Terrace Apartments

These newly upgraded one bedroom apartment homes have a host of amenities which makes this unique community attractive to students, singles, couples, families and baby boomers. Parkview Terrace offers large country kitchens, lots of closet space, and fenced-in patios. All units have their own hot water heater, central heat and air conditioning.
There are exciting amenities such as a pool and two laundry facilities. Residents enjoy going for a swim, walk with their pet or just relaxing and having a picnic at the park breathing in the fresh Colorado air.
Those who live in the Parkview Terrace community find that Larkridge Mall, Thornton Town Center, and Thorncreek Crossing Shopping Center are very convenient. They can also easily go to both the downtown Denver for exciting shopping, dining and entertainment or the mountains for a fun day of skiing. Parkview Terrace Apartments is located at 88th & Pecos, right across from Water World. Only minutes from I-25, I-70 & Highway 36 which offers you immediate access to any major Denver area.