JUST SOLD: Denver 48 Unit Apartment Building
JUST SOLD: 1145 Sherman St, Denver
List Price: 3.2 M
Sold Price: 2.8M ($400k discount)
Brian MacMillan represented the Buyers on this 48 unit Denver/Capitol Hill apartment building transaction. All 48 units are studio apartments averaging $550/month in rental income. After expenses and a few vacancies, this building is netting roughly $20,000/month or $240,000/yr.
Based off the asking price, the CAP was about 7.5%. After a $400,000 discount, the CAP figured off the sales price of 2.8M, is 8.6%!!
The location of this apartment building is on Poets Row, a small sought after area within the Capitol Hill neighborhood.
If you’re an investor looking for Denver Investment Properties, Contact Me to set up an appointment. I currently have access to a large development project in Northern Colorado, as well viable options within Denver too.
Denver Investment Properties