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.

Brian MacMillan

Denver Investment Properties

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