Just Sold: 14-Unit Multifamily Property in Wheat Ridge, CO Closes for $2,785,000

Address: 6580 W 38th Ave., Wheat Ridge, CO 80033
Sale Price: $2,785,000
Closed Date: July 19, 2024
Total Units: 14 ($198,928/Unit)
Property Size: 9,035 SF ($308/SF)
Cap Rate: 6.1%
Property Type: Multifamily

Denver, CO – July 22 , 2024 – NorthPeak Commercial Advisors is pleased to announce the sale of 6580 W 38th Ave., Wheat Ridge, CO 80033.

Hunter Schaefer and Jack Sherman of NorthPeak Commercial Advisors worked with the buyer and seller in this transaction.

“This was a unique deal that included 13 apartments, 1 house, 2 garages, and nearly 50,000 SF of dirt with mixed use zoning. The Buyer is a local group excited to improve operations and capitalize on the future development potential.

This was an example of how challenging today’s market is. To get this deal closed it took a full 6 month listing period, 16 tours, and 6 offers. Our team at NorthPeak rolled up our sleeves and was happy to internally source a qualified buyer that was able to perform on a smooth closing.”
– 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.