Denver, CO – March 1, 2021 – NorthPeak Commercial Advisors, LLC is pleased to announce the sale of Mississippi Plaza Apartments in Denver, CO.
Principals Kevin Calame and Matt Lewallen (NorthPeak Commercial Advisors) represented both sides in this transaction.
‘This was an off-market transaction. The seller saw an opportunity to sell at a price where he felt comfortable and an opportunity to get closer to retirement. The buyer, which was in a 1031 exchange out of Wyoming, saw an opportunity to improve on the current operations for a longer-term cash flow investment. ‘ – Kevin Calame NorthPeak Commercial Advisors.
For more information on this investment or current market conditions, please contact Kevin Calame at 720-738-1939 or Kevin@NorthPeakCRE.com.
SALE HIGHLIGHTS
- Sold Date: March 1, 2021
- Property Type: Multifamily
- Address: Mississippi Plaza Apartments | 1380 W Mississippi Ave, Denver, CO 80223
- Number of Units: 24
- Property SF: 13,521 SF
- Sale Price: $3,240,000
- Price Per Unit: $135,000
- Price Per SF: $240
- Cap Rate: 5.60%
