Denver Apartment Buildings For Sale website announces that Kyle Malnati and Greg Johnson sold an 8-unit apartment building in Capitol Hill 1141 Washington Street.
ADDRESS: 1141 Washington Street, Denver, CO 80203
SALE DATE: 2/21/2013
SQUARE FEET: 4,740
# OF UNITS: 8
UNIT MIX: 1-2BR/1BA; 4-1BR/1BA; 3-STUDIO
CAP RATE: 6.34% (actual)
CAP RATE: 7.80% (projected)
MADISON COMMERCIAL PROPERTIES ANNOUNCES THE SALE OF 1141 WASHINGTON STREET
DENVER, February 28, 2013 – Madison Commercial Properties announces the sale of 1141 Washington Street in
Denver’s Capitol Hill neighborhood for $638,000. Originally built in 1886 as a classic Capitol Hill mansion, the building consists of 8 apartment units: 3 studios, 4 one-bedroom, and a two-bedroom apartment. The sales price equates to nearly $79,750 per unit.
Kyle Malnati, a principal of Madison Commercial Properties, represented the Seller as a Listing Agent in the transaction. Madison’s Greg Johnson represented the Buyer. Both Buyer and Seller are experienced Denver investors.
“There was a tremendous amount of interest in the property because of its location, vintage charm, and rare one-to-one parking ratio,” stated Mr. Malnati. “The market is very active this year, and that’s especially true for Capitol Hill conversions between four and ten units.”
“We found a good fit for our clients,” added Mr. Johnson, noting that the Buyers own another building just a block away. “The new owners plan significant upgrades for the property including the kitchens, bathrooms and exterior of the building.”
About Madison Commercial Properties
Madison Commercial Properties is a Denver-based commercial real estate firm specializing in apartment brokerage and investment sales in central Denver. Managed by Kyle Malnati and Greg Johnson, Madison Commercial Properties is a division of Madison & Co. Properties. For more information, please visit http://www.madisonprops.com or http://www.DenverApartmentBuildingsForSale.com.
Special thanks to:
LENDER: Heather Wiles – Steele Street Bank & Trust
TITLE: Brianna Hern – Stewart Title of Colorado
For more information about this apartment building sale in Central Denver or other Colorado commercial real estate transactions, please contact:
Madison & Company Properties
Madison Commercial Properties
1221 S. Clarkson St. #300, Denver, CO 80210