Just Sold: 28-Unit Multifamily Property in Leadville, CO Closes for $7,000,000

Address: 921 Mount Massive Dr., Leadville, CO 80461
Sale Price: $7,000,000
Closed Date: November 30, 2023
Total Units: 28 ($250,000/Unit)
Property Size: 26,040 SF ($268/SF)
Property Type: Multifamily
Title Company: First Integrity Title
Lender: Renovo Financial

Denver, CO – November 30, 2023 – NorthPeak Commercial Advisors is pleased to announce the sale of 921 Mount Massive Dr., Leadville, CO 80461.

Joe Hornstein and Scott Fetter of NorthPeak Commercial Advisors worked with the buyer and seller in this transaction.

“We are definitely seeing more transactions with a creative approach right now. This deal works because the Buyer can deliver entry level condo units to a mountain market that desperately needs them. But this was a challenging deal that required a unique combination of the right Buyer and Seller, but also lender and title company. In the end, we’re proud of the work it took to get this deal done in a challenging market.

I’d like to extend a special thanks to Victoria Chapman and the rest of the First Integrity Title team for stepping up and taking over the transaction from Fidelity Title and closing in less than 48 hours after initial communication. I’d also like to thank Travis Sperr with Renovo Financial for arranging financing for the buyers.”
– 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.