Denver, CO – August 6, 2021 – NorthPeak Commercial Advisors, LLC is pleased to announce the sale of 601 S Pennsylvania St in Denver, CO.
Principals Joe Hornstein & Scott Fetter (NorthPeak Commercial Advisors) represented the Buyer in this transaction.
“NorthPeak represented the buyer to purchase this fantastic off-market, value add 4-unit deal in West Washington Park neighborhood. Don’t be misled by the low in place cap rate. The seller owned for 30+ years and rents were well below market rate. The Buyer will update the units and stabilize, and a great investment return long term.” – Joe Hornstein, NorthPeak Commercial Advisors.
For more information on this investment or current market conditions, please contact Joe Hornstein at 720-939-2943 or Joe@NorthPeakCRE.com.
SALE HIGHLIGHTS
- Property Type: Multifamily
- Closed Date: August 6, 2021
- Address: 601 S Pennsylvania St, Denver, CO 80209
- Sale Price: $925,000
- Number of Units: 4 ($231,250/Unit)
- Property SF: 2,638 SF ($351/SF)
- Cap Rate: 3.09%
