Denver, CO – September 30, 2021 – NorthPeak Commercial Advisors, LLC is pleased to announce the sale of 1126 Lafayette St, located in Denver, CO.
Principals Scott Fetter & Joe Hornstein (NorthPeak Commercial Advisors) represented both sides in this transaction.
“This 5-unit multifamily property in the heart of Cheesman Park has been under the same ownership for years. With some potential changes to real estate taxes looming the Seller decided it was finally time to move on and reap the rewards of her diligent maintenance of this great building. The low cap rate did not deter an experienced buyer from putting this property under contract at close to full price. The buyer has a history of purchasing historic properties like this one and injecting the capital to take the asset to the next level. This was a smooth transaction all the way around and I believe everyone is happy with the result.” – Scott Fetter, NorthPeak Commercial Advisors.
For more information on this investment or current market conditions, please contact Scott Fetter at 720-470-3646 or Scott@NorthPeakCRE.com.
SALE HIGHLIGHTS
- Property Type: Multifamily
- Closed Date: September 30, 2021
- Address: 1126 Lafayette St | Denver, CO 80218
- Sale Price: $1,277,000
- Number of Units: 5 ($255,400/Unit)
- Property SF: 4,592 SF ($278/SF)
- Cap Rate: 4.50%
