SOLD! 1152 N. York Street (12-Unit Apartment Building)

· by · in Commercial Properties Sold, Home. ·

We are proud to celebrate a monumental transaction at 1152 N. York Street! The sale of York Gardens has officially closed at $1,775,000 after 21 years careful years of stewardship by the same owner.

York Gardens stands apart from traditional 1960s built apartment communities, because of its desirable townhome-style layout, premier central location, and nine off-street parking spaces.

Image of Congress Park 12 Unit, a multi-unit residential building located at 1152 N. York Street, featuring green landscaping and a well-maintained exterior.

The Seller, Carol, bought this building the same year that Kyle got his real estate license (over 21-years ago). That same year Kyle’s senior brokers had a client that was on the hunt for a 12-unit building, so he created a database of 100-unit buildings in Central Denver and started communicating with the owners that would give him an audience.  Kyle contacted Carol that year, but she was obviously not interested in selling a building that she had just purchased. They stayed in touch though and forged a relationship that has lasted for two decades.

Don’t ask him why, but that building size just suited him well, and he gained real traction with both the building size and their owners. Over the years, Kyle became known within circles as “the 12-unit specialist.” A 12-unit building is the “Goldilocks” of the Denver apartment business; large enough to experience efficiency and economy of scale but small enough to still feel like a community. Anecdotally, there is a well-known management company that says the 12-unit building is the most profitable in their portfolio.

Three people posing together in an office setting, smiling. The group includes a man in a gray sweater, an elderly woman in a red plaid shirt and white pants, and a man in a black hoodie with a hat. A company logo is visible in the background.

Kyle with the Seller and her son (former manager of York Gardens) at Closing!

Fast forward about a decade later, Kyle’s brokerage team had cornered the market. They accounted for 92% of all 12-unit multifamily transactions in a 13-month period (link to story). Our client, Carol, reached out and expressed two lifelong dreams:

1) To buy another apartment building that was near a University where she could live in community with creative college students and walk to concerts and musical performances on campus
2) Eventually donate money to a charity that helped young adults (especially with musical aspirations).

Dream #1 was realized when Kyle helped Carol purchase an apartment building near the University of Denver at 2412 South York Street in 2016. She purchased that building with a cash-out refi of the building she sold this year (1152 North York Street) along with a 1031 Exchange from Hutchinson County, South Dakota.

Dream #2 was accomplished this year as she has been working with the University of Denver and the Lamont School of Business to donate a sizable sum through a Charitable Remainder Annuity Trust. This gives both parties a win-win. Carol gets a return on her equity for the next 12 years, with the right to pass the annuity through her estate if she passes before the 12th year.

We celebrate Carol’s success as she is truely LIVING THE DREAM! During her ownership of 1152 North York Street, the building’s value has appreciated by $826,000 ($39,334/year), which nearly doubled the price that she paid for the building.

Exterior view of York Gardens Apartments, a multifamily property in Denver, Colorado, featuring two buildings with a mix of brick and green siding. The landscaped area has gardens and walkways. Clear skies above.
A bedroom featuring a bed with a light blanket, a mirror, and windows.
Spacious 2-story, 2-bedroom townhome featuring a well-lit bedroom with a bed and a mirror.
Image of a modern one-bedroom apartment kitchen with appliances and a central island.
Photo of a kitchen area with a central island and modern appliances.
Map of an area showing amenities including dining, coffee shops, fitness centers, and retail services, with numbered locations indicated.

Interior Photos:

A clean, open-concept kitchen and living area featuring wooden flooring, a white refrigerator, a gas stove, and a central island.
Interior view of a small, modern kitchen and living space with wooden flooring, white cabinetry, a refrigerator, a stove, and a ceiling fan.
Small kitchen with white cabinets and appliances, including a refrigerator, stove, and an island countertop. The floor is wooden, and there's a doorway leading to another room.
A spacious kitchen featuring a white refrigerator, a stove, a sink with a countertop, and an island in the center, with wooden flooring and light-colored walls.
A small kitchen with white cabinets, a gas stove, a refrigerator, and a countertop island. The space features wooden flooring, a ceiling fan, and light-colored walls.
A compact kitchen featuring white cabinetry, a stainless steel sink, a gas stove, and a refrigerator, with a small island and wooden flooring.
Interior view of an empty room with hardwood flooring, featuring a kitchen island with a granite countertop, ceiling fan, and two windows allowing natural light.
Spacious and bright living area with wooden flooring, a ceiling fan, and large windows.
A vacant room with beige walls, hardwood flooring, and a ceiling fan. A window with blinds allows natural light in.
A small, empty room with light wood flooring, featuring a white ceiling fan and a closet with sliding white doors.
An interior view of a bathroom and a small storage closet, with neutral-colored walls and wood flooring visible in the closet area. The bathroom features a toilet and a bathtub with tiled flooring.
A small bathroom featuring a white sink, toilet, and a bathtub with a shower. The wall is painted a light beige, and there is a mirror above the sink.
Laundry room with two washing machines, drying machine, a countertop, and storage cabinets on the wall.
Cozy living room with a gray sectional sofa, a patterned area rug, and a decorative armchair. A television displays a mountain landscape. A white refrigerator and shelves filled with kitchen items are visible in the background.
Cozy living room featuring a gray sectional sofa, an armchair with a patterned fabric, a circular coffee table, and a wooden floor. Natural light comes in from a large window with turquoise curtains.
A small kitchen featuring wooden cabinetry, a white refrigerator, a black oven, and a sink. Various kitchen items are visible on the counters.
A cozy kitchen and dining area featuring a small bar with two white stools, a mirror, and artwork on the walls. The kitchen has wooden cabinets and a white refrigerator.
Cozy kitchen and dining area featuring a wooden bar table with two white chairs, a laptop, and colorful decor. The kitchen showcases wooden cabinets, a white refrigerator, and a wall-mounted TV displaying nature scenery. Artwork adorns the walls, and sunlight brightens the space.
A bright and cozy bedroom featuring a teal upholstered bed with a light-colored quilt, a large wooden mirror, and an air conditioning unit by the window.
Cozy bedroom featuring a bed with a light-colored quilt, a ceiling fan, a window letting in natural light, and a mirror beside the closet doors.
Cozy bedroom featuring a queen-size bed with a gray blanket, a ceiling fan, and a window allowing natural light.
A small bathroom featuring a pedestal sink, a wooden-framed mirror, a toilet, and colorful shower curtain with floral patterns. Shelves hold various toiletries and green glass items.
A bathroom shower area with beige tiles, a showerhead, and a white bathtub. There are shelves with toiletries and a small seating ledge.
Spacious living room with hardwood floors, light brown walls, and large windows allowing natural light.
Spacious living area with hardwood floors, large windows for natural light, and an entrance door.
Indoor view of a modern living space featuring hardwood flooring, a staircase with a wrought-iron railing, and a kitchen area with white cabinetry and appliances.
Interior view of a modern kitchen and living area with hardwood flooring, featuring a white refrigerator, cabinets, and a front door.
A modern kitchen featuring white cabinetry, a refrigerator, an oven, and a dishwasher, with a light-colored countertop and tiled flooring.
A modern kitchen featuring a white color scheme, equipped with a black stove, refrigerator, and a dishwasher, along with a double sink and ample counter space.
Interior view of a bright, open living space featuring hardwood floors, a large window, and a kitchen area with white cabinetry.
Interior view of a staircase leading down, featuring wooden steps and a black handrail. The walls are painted white, and there is a wall sconce providing light. A white door is seen at the end of the hallway.
A vacant room with light beige walls, a ceiling fan, and a window displaying greenery outside.
A compact bathroom featuring a white vanity with sink, a toilet, and a large mirror above the sink, with light fixtures and a towel bar on the wall.
Interior view of a bathtub with beige tiled walls in a shower area.
Empty room with beige walls, two windows, and a ceiling fan, featuring light-colored carpet flooring.
A spacious and empty bedroom with beige walls and a ceiling fan, featuring a closet on one side and a door leading outside.

Exterior Photos:

Exterior view of a multi-story residential building with a mix of brick and green siding, surrounded by trees and a landscaped area, under a colorful sunset sky.
Exterior view of a multi-story brick building with parking spaces and greenery, featuring a sign that reads 'York Gardens.'
Exterior view of a brick building with a parking area in front, surrounded by greenery and nearby structures.
Aerial view of two residential buildings: one red brick with a sloped roof and another green modern building. Surrounded by trees and a small yard.
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Aerial view of a residential building complex featuring a brick structure with a gray roof, surrounded by trees and other buildings in an urban setting. Power lines are visible in the image above a parking area with a red car.
Aerial view of an urban neighborhood featuring residential buildings, trees, and parked cars along a street. In the background, taller buildings and a greenhouse structure are visible under a partly cloudy sky.
Aerial view of a residential area featuring various buildings, trees, and parked cars, with a skyline of a city in the background.
Aerial view of a residential neighborhood featuring various homes, lush trees, and a clear blue sky.
Aerial view of a suburban neighborhood with a mix of houses and trees, showcasing various architectural styles and green spaces under a blue sky with fluffy clouds.
Exterior view of a multi-story brick building with a sign, surrounded by green trees and various architectural styles of neighboring houses.
Exterior view of a two-story red brick building with a sloped roof, surrounded by green trees and clear blue skies. A historical-style house with blue accents is visible on the left, along with decorative street lamps and grassy areas.
A view of a residential building featuring a mix of brick and green exterior, surrounded by landscaped gardens and walkways under a clear blue sky.
Outdoor area featuring a metal stairway, a blue door, and a small table with chairs, adjacent to a brick building.
A narrow alleyway between two apartment buildings, featuring stairs, a small table with chairs, and an air conditioning unit. Sunlight casts shadows on the ground and the sky is blue with scattered clouds.
Exterior view of a multi-unit building with a brick facade, featuring a set of stairs leading to upper units, a separate entrance for the lower unit, and potted plants on a table.
View of a brick building with a sloped roof, featuring several parked cars in a gravel lot. The building has multiple windows and is surrounded by trees and other structures.
Rear view of a brick building with a sloped roof, featuring several windows, surrounded by parked cars in a residential area.
Side view of a red brick building with large windows, surrounded by several parked cars in a gravel lot, under a blue sky with scattered clouds.
Exterior view of a brick apartment building with a sloped roof, featuring a parking area and surrounded by trees and other structures.
Exterior view of a red brick building with a sloped roof, featuring several windows and a gated entrance, surrounded by green trees and a parking area.

CLICK HERE FOR MARKETING BROCHURE

Property Details:

  • Sale Price: $1,775,000
  • Building Size: 9,450 SF
  • Lot Size: 6,250 SF
  • Year Built: 1964
  • Hot Water Boiler
  • Neighborhood: Cheesman Park

Property Highlights:

  • Prime Cheesman Park location just minutes from Downtown Denver
  • Boutique 12-unit apartment community
  • Desirable unit mix: 4 one-bedroom and 8 two-bedroom apartments
  • Nine off-street parking spaces for tenant convenience
  • Spacious floor plans totaling approximately 9,450 SF
  • Hardwood flooring throughout the residences
  • Fully equipped kitchens with full-size appliances and dishwashers
  • Full bathrooms with tubs and generous walk-in closet space
  • Abundant natural light and ceiling fans in each unit
  • Shared on-site laundry facility and professionally maintained common areas
  • Exceptional walkability with convenient access to parks, dining, shopping, and public transit
Professional portrait of Kyle Malnati, a real estate agent at Kentwood Real Estate, displaying his contact information and company logo.

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