Denver, CO – February 24, 2022 – NorthPeak Commercial Advisors, LLC is pleased to announce the sale of 2570-2580 S Valley Hwy, located in Denver, CO.
Senior Advisor Hunter Schaefer (NorthPeak Commercial Advisor) represented the seller and buyer in this transaction.
“This was another example of a listing that was on the market for just one week and generated 14 tours and 10 offers – which is quickly becoming the new normal for clients who decide to list with NorthPeak. We were happy to deliver excellent price and terms for a 20 year owner that was ready to cash out at the top of the market. At the same time, there is massive upside on this deal via renovation and rent growth that the Buyer is excited to realize.”
-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: February 24, 2022
- Property Name: Highline Canal Apartments
- Address: 2570-2580 S Valley Hwy, Denver, CO 80222
- Sale Price: $3,620,000
- Number of Units: 18 ($201,111/Unit)
- Property SF: 13,400 SF ($270/SF)
- Current Cap Rate: 4.3%
- ProForma Cap Rate: 5.7%
