Denver, CO – October 17, 2022 – The Johnson-Piretti Team at NorthPeak Commercial Advisors is pleased to announce the sale of The Elaine Apartments. Located at 1424 Pennsylvania Street in Denver’s Capitol Hill neighborhood, The Elaine is a beautiful vintage property that was completely renovated over the past 18 months.
The 23-unit property was reimagined during a $1,000,000 renovation that included designer kitchens, upgraded bathrooms and numerous improvements to the building’s systems and common areas.
Greg Johnson and Conner Piretti of NorthPeak Commercial Advisors represented the seller while The Brockman Group represented the buyer in this transaction.
Our clients did a masterful job of blending modern touches with the timeless charm of The Elaine. The investors were handsomely rewarded for the extensive work they performed.
-Greg Johnson, NorthPeak Commercial Advisors.
For more information on this investment or current market conditions, please contact Greg Johnson at 303-818-1805 or Greg@NorthPeakCRE.com.
SALE HIGHLIGHTS
- Address: 1424 N Pennsylvania St., Denver, CO 80203
- Sale Price: $6,900,000
- Sale Date: October 17, 2022
- Property Size: 15,378 SF ($448/SF)
- Number of Units: 23 ($300,000/unit)
- Property Type: Multifamily
