Apartment building sale in Denver - 760-770 E. 11th Avenue
Posted on Mon, Dec 20, 2010
760-770 E. 11th Avenue is a nicely renovated 13 unit Denver apartment building located in the heart of Capitol Hill. The multifamily property was constructed in 1900 and consists of 9 - 1Br/1Ba, 2 - 1.5Br/1Ba and 2 - 2Br/1Ba apartment units.
The transaction closed on December 20, 2010 with contract price of $1,020,000 or $78,461 per unit. Kyle Malnati, represented the Seller, while Nick Schill, represented the Buyer in the transaction.
Kyle Malnati added that, “the Buyer had been looking for a suitable property for several months. I had met them with Nick several times at various listings of mine, but they couldn’t find the right deal. I knew that they were well qualified Buyers as they were going to purchase a replacement Property with funds from a 1033 Exchange due to a condemnation of another Property by way of eminent domain. We notified the Buyers that The Flats at Eleventh Avenue were a new listing, and they wrote an offer on the Property before it hit the open market. The Buyers were attracted to all the capital improvements the Seller had made in the last 3-4 years (estimated at over $150,000)!”
For more information on this apartment building sale in Denver or other Colorado commercial real estate transactions please contact Kyle Malnati at 303.962.9555.