Calibrate Real Estate loves to rise to the occasion! Successfully navigating a red-hot seller’s market with a 1031 Exchange buyer takes a lot of skill and good relationships. Add a complex loan assumption into the mix, now we have a great story to tell!
Kyle Malnati represented a multigenerational, family partnership in their second transaction of 2021. In January, Calibrate Real Estate sold their 6-unit apartment building in Denver’s Uptown neighborhood. With the 1031 Exchange clock ticking away, Calibrate helped our clients win a bidding war in February on a beautiful, vintage building called Milagros in West Washington Park.
Relationships are key in the Denver multifamily market which is why Calibrate is always happy to cooperate with other brokerage firms like the Seller’s Agent at Marcus & Millichap. This is the 5th different transaction that a Calibrate broker has co-op’d with a Marcus & Millichap agent. Maria & Mike Fiorillo at Apartment Concepts Unlimited will manage the building for the Buyer. Special thanks to Catherine Murphy at Chase Commercial Term Lending, Kayla Davis at Calibrate Real Estate, and Brianna Corwin at Stewart Title for their time, effort, and energy throughout this deal!
At Calibrate Real Estate, we exist to help people create generational wealth through real estate. That is our mission! We are grateful and blessed to work with families that care about the bottom-line. If this story speaks to you, please consider Calibrate Real Estate as your brokerage of choice as you embark on your next purchase or sale of an apartment building.
Denver rental properties are a smart investment:
- Protects your wealth as a hedge on inflation
- Provides you with a reliable source of cash-flow
- Scalable investment model
- Lower tax rate than other commercial real estate
- Appreciating asset over the long-term
Property Details:
Neighborhood: Speer
Address: 215 E. Bayaud Ave. 80209
Sale Price: $2,515,000
Price/Unit: $228,636
# of Units: 11
INVESTMENT HIGHLIGHTS:
- Classic 1930s restored building close to the bars, restaurants, and shops of Broadway. Quiet, great tenants, well-maintained building
- This spacious second floor unit was fully renovated a year ago
- Walk Score: 95 – Walker’s Paradise
- Just 2 Miles from Washington Park
- Nearby Denver County Club near the Cherry Creek Shopping Center and the Denver Botanic Gardens
- Close proximity to Local restaurants, lively bars, and busy residential streets make up this Denver neighborhood
