Calibrate Real Estate announces that Kyle Malnati and Greg Johnson have successfully brokered the sale of a 5-unit apartment building located at 101 Logan Street in Denver, Colorado. The Seller previously purchased this property with the help of Kyle Malnati in 2013 for $460,000. After four years of completing extensive renovations, the Seller listed the property with Calibrate Real Estate and was able to capitalize on a wise investment by selling 101 Logan Street for $1,175,000, representing a value increase of $715,000 in just 4 years!
The Buyer, an investor from Washington, D.C., owns a portfolio of apartment buildings in Denver and is moving his interests to Colorado to be closer to family. Thank you to Darren at Chase for providing the financing and to Brianna at Stewart Title for facilitating our real estate closing.
See below for more details on this sale;
Denver Neighborhood: Wash Park
Address: 101 Logan Street
Sale Date: August 21, 2017
Sale Price: $1,175,000
# of Units: 5
Building Size: 3,868* SF
Lot Size: 4,340* SF
Year Built: 1895
*Buyer to verify accuracy of square footage. Square footage data was obtained from Denver County Assessor’s website.*
UNIT BY UNIT RENT ROLL:
#1: 1.5Br/1B $1,575/Month
#2: 1Br/1Ba $1,500/Month
#3: 1Br/1Ba $1,200/Month
#4: 1Br/1Ba $1,200/Month
Carriage House: 1Br/1Ba $1,500/Month
– Turn-key opportunity with capital improvements in Wash Park Neighborhood
– Walking Distance to Neighborhood Restaurants, Entertainment, and Shopping.
– Vintage Building with Modern Updates
– Fully renovated garage to “Carriage House” with own private address