We pleased to announce the successful sale of this 5-unit apartment building located at 2821 N. Federal Blvd, but it wasn’t as easy as it may have looked.
After a multiple offers situation, the property was awardeed to a 1031 exchange buyer. During the inspection, Kyle had a feeling that the Buyer was going to ask for more concessions than the Seller would give. Therefore, Kyle proactively toured a couple of back-up Buyers through the buidling while having access to all 5 units on the inspection day.
As expected, Buyer #1 was not able to agree to terms with the Seller. As soon as the first offer terminated, Buyer #2 submitted an offer. However, the Seller and Kyle agreed to re-market the property and generated even more offers. After two multiple offer rounds with 5-6 strong offers in each, we were able to work through objections and get this investment property sold for 99.5% of list price!
Unit 5 / Carriage House:
Address: 2821 N. Federal Blvd. Denver, CO 80211
List Price: $925,000
Year Built: 1922
Building Size: 3,442 SF*
Lot Size: 7,548SF *
*Reader to verify square footage
- 5-Unit 1 Bed/1 Bath Apartment Property in Denver’s Popular Highlands Lake Neighborhood
- Units Feature Updated Fixtures & Finishes with Newer Vinyl Windows & Refinished Hardwood Floors
- Stand Alone Carriage House Serves as the 5th Unit
- Large Shared Backyard & 5 Off Street Parking Spaces – Huge Bonus for Tenants
- Good Potential for an Owner/Occupant – Live in the Carriage House and Rent Out the Other Units!
- Nearby Parks Include: Sloan’s Lake Park, Viking Park, & Highland Park