Just Sold: 18-Unit in City Park West

Denver, CO – January 14th, 2022 – NorthPeak Commercial Advisors, LLC is pleased to announce the sale of 1878 N Vine St, located in Denver, CO.

Senior Advisors Greg Johnson and Conner Piretti (NorthPeak Commercial Advisors) represented the seller in this transaction.

This was a fully marketed listing by the Johnson-Piretti Team which resulted in a sale price 5% above the original list price.  The Seller was an owner-operator who chose to move his equity into a more passive investment upon Closing.  The Buyer, who was attracted to this location just two blocks from City Park, plans to bring the rents up to market-rates and hold the property long term. 

“We were happy to help the Seller find an experienced Buyer who paid top dollar and sees the future potential of the property.”

-Conner Piretti, NorthPeak Commercial Advisors.

For more information on this investment or current market conditions, please contact Conner Piretti at 303-818-1805 or conner@northpeakcre.com.

SALE HIGHLIGHTS

• Property Type: Multifamily
• Closed Date: January 14th, 2022
• Property Name: 1878 N Vine St
• Address: 1878 N Vine St
• Sale Price: $4,200,000
• Number of Units: 18 ($233,333/Unit)
• Property SF: 9,528 SF ($441/SF)
• Cap Rate: 4.0%

Selling Brokers