Kyle Malnati with Kentwood Commercial is pleased to announce that the Thomas Logan Apartments, a vintage 4-unit multifamily asset with many updates, sold this week. The property, located near the corner of Colfax/Washington, was built in 1892 and sold for $920,000.
The Seller purchased the property in 2012 for $450,000 and saw the need to create energy-efficient upgrades. During his ownership, the Seller installed new double-paned windows, central air conditioning, solar panels, gas forced-air furnace, and a dedicated mini-split HVAC unit for the attic. This fourplex doubled in value in a dozen years!
Property Photos:
- Sale Price: $920,000
- # of Units: 4
- Garage + Off-Street Parking
- Lot Size 4,690 SF*
- Building Size: 2,732 SF*
- *Reader to confirm all Square Footage. (Source: Denver County Assessor)
- Rent roll for 1537 N. Washington St.
- 1. $1,450 (2nd Floor, 3/1 on an old lease: July 2012)
- 2. $1,400 (Attic, New Tenant, $1,350 +$50 Parking)
- 3. $1,895 (1st Floor, was manager office until 2018)
- 4. $1,300 (Garden Level, New Tenant)
