Denver, CO – September 18, 2024 – NorthPeak Commercial Advisors is pleased to announce the sale of 2045 S Josephine St., Denver, CO 80210.
Jack Sherman and Hunter Schaefer of NorthPeak Commercial Advisors worked with the buyer and seller in this transaction.
“On the sell side, we were pleased with the pricing we were able to get in a difficult market to help our clients make a lifestyle transition into a different asset. My sellers had owned and meticulously maintained this property for the last 20+ years and it showed during the marketing process. My team was able to generate multiple offers in the first 2 weeks to allow my sellers to choose which one fit their needs the best.
On the buy side, this client is excited to buy in an irreplaceable location just a block away from DU campus where there is very limited supply of this product and future development opportunities.
– Jack Sherman, NorthPeak Commercial Advisors.
For more information on this investment or current market conditions, please contact Jack Sherman at 303-903-9638 or Jack@NorthPeakCRE.com.
SALE HIGHLIGHTS
- Address: 2045 S Josephine St., Denver, CO 80210
- Sale Price: $1,200,000
- Close Date: September 18, 2024
- Total Units: 4 ($300,000/Unit)
- Property Size: 2,917 SF ($411/SF)
- Current Cap Rate: 4.1%
- Pro Forma Cap Rate: 5.8%
- Property Type: Multifamily
