Calibrate Real Estate is pleased to announce an off-market sale of this 39-Unit apartment building located in central Denver at 1201 N. Clarkson Street, also known as “The Gaucho”. The Buyer completed a 1031 exchange on the sale, and the Seller plans to do an exchange as well.
The Seller, The Tremont Investment Group, owned and operated the Gaucho for 18 years. The Seller had a rich history with the building and at one point resided in and managed the property. Calibrate has sold three properties for the Seller in the past year and a 4th property back in 2015.
The Buyer, Knightbridge Capital, has plans to renovate the property. Moving forward the building will be managed by Cornerstone Property Management, who will manage the construction and the day-to-day operation of the building.
Land Title Guarantee Company provided the title commitment, escrow, and settlement services. 5Star Bank provided financing for the Buyer.
Neighborhood: Capitol hill
Address: 1201 N. clarkson St..
Sold Price: $7,300,000
Building Size: *25,850 SF
Lot Size: *12,500 SF
*Reader to verify square footage
- 39-Unit Apartment Building in Central Denver
- Unit Mix: (30) Studios, (8) 1 Bedroom, (1) 2 Bedroom
- 32 Units Have Balconies
- Off-Street Parking: 14 Surface Spaces
- Capital Improvements Include Elevator Updates and Fire Standpipe
- Year Built: 1966
- Lot Size 12,500 SF*
*Reader to confirm all Square Footage. Data was used from public records