Just Sold: 25-Unit in Lakewood, CO Sells for $4,200,000

Denver, CO – March 1, 2023 – NorthPeak Commercial Advisors, LLC is pleased to announce the sale of 7920 W 10th Ave., Lakewood, CO 80214.

Joe Hornstein and Scott Fetter of NorthPeak Commercial Advisors represented the buyer in this transaction.

“A combination of factors lined up to make this sale a homerun for our Buyer. The property had been on the market but struggled with timing due to interest rates. The below market financial performance further complicated lending options and there were deferred maintenance items that needed to be addressed, as well. Those challenges created opportunity that our Buyer recognized and he used his solid reputation and a straightforward contract to land a great deal. At a net basis of $160,000/unit, this is an eye-opening comp that I don’t expect will be matched anytime soon.”
– 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.