Denver, CO – August 23, 2021 – NorthPeak Commercial Advisors, LLC is pleased to announce the sale of 2880 Harrison St., a 3-unit apartment building located in Denver, CO.
Senior Advisors Conner Piretti & Greg Johnson (NorthPeak Commercial Advisors) represented the Seller in this transaction.
“We’re pleased to be a part of the Seller’s success story at 2880 Harrison. The Seller purchased the property through us in 2017 and increased the rents through improved management and cosmetic updates. This led to a 40% increase in value in just 4 years. The Buyer plans to update the property further and expects rents to continue increasing as the area benefits from the new construction happening throughout the neighborhood.” – Conner Piretti, NorthPeak Commercial Advisors.
For more information on this investment or current market conditions, please contact Conner Piretti at 303-818-1805 or Conner@NorthPeakCRE.com.
SALE HIGHLIGHTS
- Property Type: Multifamily
- Address: 2880 Harrison St. | Denver, CO 80205
- Closed Date: August 23, 2021
- Sale Price: $894,000
- Number of Units: 3
- Price / Unit: $298,000
- Building Size: 2,500 SF
- Price / SF: $358
- Cap Rate: 6.20%
