Lakewood, CO – August 25, 2021 – NorthPeak Commercial Advisors, LLC is pleased to announce the sale of Sunset Park – 10623-10709 W 8th Ave in Lakewood, CO.
Advisor Hunter Schaefer, (NorthPeak Commercial Advisors), represented the Buyer in this transaction.
“This was a record setting price for the area that made sense for a unique Buyer who was willing to get creative with value-add opportunity. The Buyer has established a sizeable footprint in the area and plans to create an attractive community for renters. The transaction was put together off market and both parties are 1031 exchanging.” – 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
- Property Type: Multifamily
- Closed Date: August 25, 2021
- Property Name: Sunset Park
- Address: 10623-10709 W 8th Ave, Lakewood, CO 80215
- Sale Price: $3,840,000
- Number of Units: 24 ($160,000/Unit)
- Property SF: 13,898 SF ($276/SF)
- Cap Rate: 4.4% | Proforma Cap Rate: 5.5%
