Denver, CO – October 4, 2023 – NorthPeak Commercial Advisors is pleased to announce the sale of 1190 S Sheridan Blvd., Denver, CO 80232.
Jack Sherman and Hunter Schaefer of NorthPeak Commercial Advisors worked with the buyer in this transaction.
“This is a true value add deal in poor condition with plenty of upside in a growing neighborhood. My Buyer was able to take advantage of a downward trending market by using a 1031 exchange to trade into a much lower basis than what he sold for a few months ago. At $110k/unit and a current 7.5% CAP rate, he is likely to do well over the long term with this investment.”
– 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: 1190 S Sheridan Blvd., Denver, CO 80232
- Sale Price: $1,300,000
- Closed Date: October 4, 2023
- Total Units: 12 ($108,333/Unit)
- Property Size: 4,800 SF ($270/SF)
- Current Cap Rate: 7.5%
- Property Type: Multifamily
