The Denver Apartment Buildings For Sale website announces that Kyle Malnati and Greg Johnson sold an 8-unit apartment building in the Whittier neighborhood yesterday (1/8/2015). The property is located at 3030 Williams Street, Denver, CO 80205.
NEIGHBORHOOD NAME: Whittier
ADDRESS: 3030 Williams Street, Denver, CO 80205
SALE PRICE: $980,000 (LIST PRICE: $975,000)
SALE DATE: Thursday 1/8/2015
BUILDING SIZE: 4,442* SF
LOT SIZE: 9,390* SF
PARKING: 5 Spaces
# OF UNITS: 8
UNIT MIX: 8-1Br/1Ba
CAP RATE: 5.97% (actual)
CAP RATE: 6.56% (projected)
*Reader to verify accuracy of square footage*
– Off-Street Parking
– Each Unit has Small Private Fenced Back Yard
– Close to Downtown
– Upgraded Apartments Include:
— Granite Kitchen Countertops
— Stainless Steel Appliances
— New Cabinets in Kitchen and Bath
— Vinyl Wood Floors
SELLERS MORE THAN DOUBLE THEIR INVESTMENT WITHIN 18 MONTHS
DENVER, January 14, 2015 – Greg Johnson and Kyle Malnati of Madison Commercial Properties announce the sale of 3030 Williams Street, an 8-unit property in Denver’s Whittier neighborhood. The sale price of $980,000 equates to $122,500/unit.
“The sellers purchased this property from the previous owner in 2013 for just $425,000 and immediately began doing impactful interior renovations,” said Mr. Malnati. After having held the property for less than 18 months, the owners selected the veteran brokerage team of Malnati and Johnson to list and market the property.
“It’s incredible, really,” commented Mr. Malnati. “The sellers more than doubled their initial investment in little time by executing a fantastic renovation plan.”
“We knew it wouldn’t take long to find the right buyer to seize this opportunity, and we were right,” added Mr. Johnson. “The buyer, who plans to self-manage the property, is thrilled to have added this to his growing central Denver portfolio.”
About Madison Commercial Properties
Madison Commercial Properties is a Denver-based commercial real estate group 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.
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Kyle Malnati (303-358-4250)
Greg Johnson (303-343-8333)
Madison & Company Properties
1221 S. Clarkson St. #300, Denver, CO 80210