Denver, CO – February 16, 2023 – NorthPeak Commercial Advisors is pleased to announce the sale of 551 S Fairfax St, Denver, CO, 80246.
Hunter Schaefer, Jack Sherman, and Dan Hawthorne of NorthPeak Commercial Advisors represented the buyer and seller in this transaction.
“This off market deal was all about strong relationships. This was our 8th deal with a long term owner looking to get out of apartments into a more passive investment. Seller financing allowed us to deliver strong exit pricing and passive cash flow, which was perfect for the seller’s needs. Given the increasing level of uncertainty in the market, we were pleased to find a buyer with a strong track record that could perform on closing day. The Buyer specializes in renovations like this and plans to completely reposition the property.”
– Hunter Schaefer, NorthPeak Commercial Advisors
“Seller financing was a great solution for our client who wanted to retain consistent cashflow but was ready to stop taking care of the asset. This was truly a win/win scenario for both Buyer and Seller.”
– Jack Sherman, 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
- Address: 551 S Fairfax St, Denver, CO, 80246
- Sale Price: $2,350,000
- Closed Date: February 13, 2023
- Property Size: 10,620 SF ($221/SF)
- Units: 13 ($180,769/Unit)
- Cap Rate: 5.6%
- Property Type: Multifamily
