MADISON COMMERCIAL PROPERTIES ANNOUNCES THE SALE OF 1362 CLAYTON STREET, DENVER, CO 80206
DENVER, January 3, 2014 – Madison Commercial Properties announces the sale of an apartment building at 1362 Clayton Street for $1,415,000. This 12-unit property was built in 1965, and contains 10 one-bedroom and 2 studio apartments. The sale price equates to just under $118,000 per unit, and just over $136 per square foot.
Kyle Malnati and Greg Johnson, principals of Madison Commercial Properties, represented both Seller and Buyer in the transaction. “We generated a lot of interest in this property right out of the gate. We received three competitive offers and went under contract within 2 days. The property sold for $40,000 over list price,” said Mr. Malnati.
This property is in a coveted Congress Park location and is close to Cheesman Park and the Denver Botanic Gardens. “The unique feature of the building is the attractive private balconies on eight of the units. The property is also conveniently located between the 12th Avenue retail district and the Tattered Cover bookstore,” stated Mr. Johnson.
“This transaction was part of a 1031 Exchange for the Buyer, and was a great addition to his existing Denver apartment portfolio,” added Mr. Johnson.
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 www.madisonprops.com or www.DenverApartmentBuildingsForSale.com.
~Kyle Malnati (303-358-4250)
Greg Johnson (303-343-8333)
Madison & Company Properties
1221 South Clarkson Street, #300, Denver, CO 80210