Sheridan, CO – September 29, 2021 – NorthPeak Commercial Advisors, LLC is pleased to announce the sale of Julian Square Apartments, located at 3800 S Julian St in Sheridan, CO.
Advisor David Barocas, along with Principals Joe Hornstein & Scott Fetter (NorthPeak Commercial Advisors) represented the Buyer in this transaction.
“We are pleased that, through our local network, we were able to put this deal together off market and that both Buyer and Seller worked together making this a smooth transaction. The Seller purchased this asset 3 years ago and spent that time updating units and stabilizing rents. The Buyer looks to take those renovations a step further and believes there is still significant potential to increase rents while continuing to make improvements to the property.” – David Barocas, NorthPeak Commercial Advisors
For more information on this investment or current market conditions, please contact David Barocas at 303-669-2475 or David@NorthPeakCRE.com.
SALE HIGHLIGHTS
- Property Type: Multifamily
- Closed Date: September 29, 2021
- Address: Julian Square Apartments | 3800 S Julian St, Sheridan, CO 80236
- Sale Price: $7,700,000
- Number of Units: 40 ($192,500/Unit)
- Property SF: 32,517 SF ($237/SF)
- Cap Rate: 5.32%
