Calibrate Real Estate announces the sale of an 7-unit vintage apartment building located in the City Park neighborhood, at 1550 Milwaukee Street. Greg Johnson & Conner Piretti worked with the Seller and Buyer in this transaction. The deal was put together off-market for the Buyer, a local family, to complete their 1031 exchange. The Seller owned the property for nearly 30 years, and was a resident of the building when he purchased it in 1992 for $96,000.

The building contains six spacious two-bedroom units, plus a one-bedroom apartment on the garden level.  The property also offered a two-car garage and six additional parking spaces.

For more details on this transaction, please see below: 

1550 Milwaukee Street – Marketing Brochure

Denver Neighborhood: City Park
Address: 1550 Milwaukee Street, Denver, CO 80206
Sale Date: 2/11/2020
Sale Price: $2,050,000
Price/Unit: $292,857.14
Price/SF: $263.16
# of Units: 7
Building Size: 7,790 SF*
Lot Size: 9,350 F*
Year Built: 1930
*Reader to verify accuracy of square footage. Square footage data was obtained from Denver County Assessor’s website.*

UNIT BY UNIT RENT ROLL:
1: 2Br/1Ba $1,900/Month
2: VACANT
3: 1Br/1Ba $1,500/Month
4: VACANT
5: VACANT
6: VACANT
7:  VACANT
 
PROPERTY HIGHLIGHTS:
– Vintage Property Full of Character and Charm
– Great Mix of One Bedroom (1) and Two Bedroom (6) Apartments
– 5.6% CAP Rate
– Oversized Two Bedroom Units (1,025sf) with Dining Rooms
– 7 Surface Parking Spaces and a 2-Car Garage

 Greg Johnson & Conner Piretti 
Greg@CalibrateRE.com | Conner@CalibrateRE.com
303.810.1328 | 303.818.1805

Calibrate Real Estate (303) 482-2828
2425 S. Colorado Blvd #250, Denver, CO 80222
http://www.CalibrateRE.com
http://www.DenverApartmentBuildingsForSale.com