Apartment building sale in Wheat Ridge - 2650 Chase Street
Posted on Thu, Dec 30, 2010
2650 Chase Street is a multifamily property that was constructed in 1958 with a total of 8 large units in a low maintenance brick building. The property was totally vacant at the time of sale. The building contains 7 – 2bed/1bath units and 1 – 2bed/1bath unit with an added loft in addition to fireplaces and hardwood floors in select units.
Josh Newell, commercial real estate broker and Senior Advisor for Pinnacle Real Estate Advisors in Denver, assisted both the Seller and the Buyer in the transaction. Josh was able to help the Seller, a local bank, dispose of this REO property while creating a strong investment opportunity for the Buyer. “We were able to source a local Buyer that paid all cash and closed within 3 weeks of first walking the property,” Newell commented. The transaction closed on December 30th, 2010 with a contract price of $315,000 or $39,375 per unit.
For more information on this apartment building sale in Denver or other Colorado commercial real estate transactions please contact Josh Newell at 303-962-9559.