Off-Market Sale: 1325 Madison Street – 1031 Exchange

The Denver Apartment Buildings For Sale website announces that Greg Johnson and Kyle Malnati of Madison Commercial Properties represented both Buyers and Sellers in the purchase of an apartment building at 1325 Madison Street. This Congress Park sale completed a 1031 Exchange for their clients.

Since 2013, the previous owner invested $95,000 into significant improvements to the property which included a concrete parking lot, a high efficiency boiler, new vinyl windows, a tankless water heater system, and more.  Sale details below:

1325 Madison Street Off-Market Flyer

Address: 1325 Madison Street, Denver CO 80206
Sale Date: November 1, 2016
Price: $2,100,000
Price/Unit: $175,000/Unit
Price/SF: $220.77

CAP Rate: 3.33% (5.59% Stabilize)
# of Units: 12
Building Size: 9,512 SF
Lot Size: 6,935 SF
Year Built: 1960

Capital Improvements $95,000:
$27,450 – Boiler
$6,700 – Tankless Water Heater
$5,574 – Evaporating Coolers
$34,680 – Concrete work for new parking lot, sidewalks, & drainage around periphery
$20,416 – Vinyl windows



Investment Highlights:

  • Attractive Congress Park location
  • New high efficiency boiler and hot water system
  • Beautiful wood laminate floors with carpeted bedrooms and new windows
  • Walking distance to a variety of restaurants

Greg Johnson (303-343-8333)
Kyle Malnati (303-358-4250)
Madison & Company Properties
1221 S. Clarkson St. #410, Denver, CO 80210