Denver, CO – December 29, 2021 – NorthPeak Commercial Advisors, LLC is pleased to announce the sale of 1451-1459 N Detroit St, located in Denver, CO.
Senior Advisors Greg Johnson and Conner Piretti (NorthPeak Commercial Advisors) represented the seller and buyer in this transaction.
“This was an off-market transaction between an out of state Buyer and a Seller looking to take advantage of record pricing in today’s market. We were pleased to deliver a high price and an easy transaction to the Seller. The Buyer is excited by the long-term upside in Denver apartments and sees lots of potential in this property and location. This was a win-win for everyone.”
-Conner Piretti, NorthPeak Commercial Advisors.
For more information on this investment or current market conditions, please contact Greg Johnson at 720-738-1671 or greg@northpeakcre.com.
SALE HIGHLIGHTS
- Property Type: Multifamily
- Closed Date: December 29, 2021
- Property Name: 1451-1459 N Detroit St
- Address: 1451-1459 N Detroit St
- Sale Price: $7,950,000
- Number of Units: 37 ($214,865/Unit)
- Property SF: 18,925 SF ($420/SF)
- Cap Rate: 4.7%
