“Outside walkup” apartment buildings are a popular style of construction in Denver’s multifamily market. There are hundreds of these buildings across the Denver metro area. The outside walkup was built in Central Denver predominantly from 1965-1970 until changes in zoning/building code and the cost of land made it prohibitive to build in the City/County of Denver. After development of outside walkup apartment buildings diminished in Central Denver, developers built the outside walkup building model across the rest of the Denver metro area.
As noted in previous articles, Greg Johnson and Kyle Malnati have mastered the sale of the Central Denver outside walkup. Proof of their multifamily brokerage excellence is displayed in their two most recent contracts for outside walkups:
833 Emerson Street (List Price: $200,000/unit)
– 20-unit Outside Walkup
– Desirable Capitol Hill Location
– 1Br & 2Br Floorplans
– 20 Parking Spaces (1:1 Ratio!)
– New Boiler System (2016)
2035 South Josephine (List Price: $173,750/unit)
– 40-unit Outside Walkup
– Walkable University of Denver Location
– 1Br & 2Br Floorplans
– 20 parking spaces (1:2 Ratio)
– Upgraded Flooring
There were many detractors when Calibrate Real Estate listed both of these apartment buildings for sale. Frankly, there were some people that said we were CRAZY.One local multifamily owner was quoted as saying, “Thank you… but too pricey for me.” However, as crazy as each offering price might have seemed, it is interesting to note that both buildings are under contract with existing Central Denver apartment building ownership groups. Each building is under contract with a different buyer, so this is NOT a portfolio buyer that offered on both properties.
At Calibrate Real Estate, it doesn’t matter how big or small your investment portfolio is; we care about fulfilling your life-long dreams. We believe that we play a special role in helping our clients retire. This is example is just one of many that make us smile as we think about the great privilege it is to help our clients reach their goals.
About Calibrate Real Estate:
Calibrate Real Estate, LLC, is a Denver-based commercial real estate brokerage company specializing in apartment building brokerage services and investment sales. The firm is led by Kyle Malnati and Greg Johnson and is dedicated to serving clients that own apartment buildings in Central Denver with a focus on precision, excellence and determination in the market. For more information, visit CalibrateRE.com.
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Kyle Malnati (Kyle@CalibrateRE.com)
Greg Johnson (Greg@CalibrateRE.com)
Calibrate Real Estate
900 East Louisiana Avenue #203, Denver, CO 80210