SOLD: 1272 Pennsylvania Street (25-Units)

Calibrate Real Estate announces the sale of The PennMor Apartments at 1272 Pennsylvania Street in Denver’s Capitol Hill neighborhood. Greg Johnson and Conner Piretti represented the Buyers in this transaction.   The property was listed by Brian Haggar of Marcus & Millichap.

This transaction relied on the persistence of the brokers, and could not have been completed without the trust our clients placed in the Johnson-Piretti Team.   The property was first targeted in April 2019, originally toured in July 2019, and four offers were submitted before we placed the property under contract last month.

Our clients purchased the 25-unit property $3,700,000 ($148,000/unit), which is 28% below the original list price.  The building contains 24 two-bedroom apartments and a three-bedroom apartment.

Greg Johnson summarized, “Look at the price per door, and it’s obvious our clients made a great buy.  They patiently pursued the property, and we demonstrated to the Seller that we had the right Buyer for the building.”

For more details on this transaction, please see below: 

Denver Neighborhood: Capitol Hill
Address: 1272 Pennsylvania Street, Denver, CO 80203
Sale Date: 2/28/20
Sale Price: $3,700,000
Price/Unit: $148,000
Price/SF: $296
# of Units: 25
Building Size: 12,500 SF*
Lot Size: 0.16 Acres *
Year Built: 1909
*Reader to verify accuracy of square footage. Square footage data was obtained from Denver County Assessor’s website.*

PROPERTY HIGHLIGHTS:
– Just blocks to the Capitol Building and Downtown Denver
– Hardwood floors throughout the building
– Separate electric meters for each unit central boiler

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 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

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