Denver Apartment Building SOLD by Kyle Malnati – Booker T. Washington Apartments

Denver Apartment Building SOLD by Kyle Malnati

FOR IMMEDIATE RELEASE – 3/12/2012

KYLE MALNATI – PRINCIPAL FOR MADISON COMMERCIAL PROPERTIES, LTD – IS PROUD TO ANNOUNCE THE FOLLOWING APARTMENT BUILDING SALE IN DENVER:

ADDRESS: 407-455, 422-444 29th Street
Denver, CO 80205
PRICE: $1,500,000
SALE DATE: 3/12/2012
PRICE/UNIT: $45,454/unit
PRICE/SF: $78.71/SF
UNIT MIX: 18 – 1Br/1Ba
12 – 2Br/1Ba
3 – 3Br/1Ba

Kyle Malnati, Owner/Principal of Madison Commercial Properties, LTD in Denver, was the only Broker involved in the transaction.

SPECIAL THANKS TO:
LENDER: Ryan Cowles & Chris Waters – Steele Street Bank & Trust
TITLE: Leigh Renfro & Sean Bennetts – Land Title Guarantee Company

For more information on this apartment building sale in Denver or other Colorado commercial real estate transactions please contact Kyle Malnati at 303-771-3850 or kmalnati@madisonprops.com.

www.DenverApartmentBuildingsForSale.com
http://www.madisonprops.com/madisoncommercial.html
www.madisonprops.com

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Kyle Malnati Receives Award at DMCAR Heavy Hitters Event Today!

DMCAR Heavy Hitters

The Denver Apartment Buildings For Sale website is proud to announce:

We get in touch to remind you that the Heavy Hitters in Commercial Real Estate Luncheon is from 11:30 to 1:00 pm this Friday at the Ritz Carlton. Please plan to check-in at registration at 11:30 in the foyer outside the 2nd floor ballroom (top of the grand staircase).

Date: Today (Friday March 9, 2012
Time: 11:30 AM -1:00 PM
Place: Ritz Carlton Denver (1881 Curtis St., Denver, CO 80202)

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Children’s Hospital Colorado Foundation for Billy Malnati 3/6/2012 – Denver Apartment Buildings For Sale website

Kyle Malnati - Children's Hospital Colorado Foundation for Billy Malnati 3.6.2012 - Denver Apartment Buildings For Sale website

Kyle Malnati – Children’s Hospital Colorado Foundation for Billy Malnati 3.6.2012 – Denver Apartment Buildings For Sale website

I was very happy to make a donation in memory of my brother, Billy, today. We’re also going to donate all gifts from the twins’ first birthday. Billy spent quite a bit of time at Children’s and it warms my heart to be able to give back in his name — at the Children’s Hospital Colorado • Anschutz Medical Campus • 13100 East Colfax Avenue, Aurora, CO 80045

~ Kyle Malnati, Denver, CO (Madison Commercial Properties – Madison & Company Properties)

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5 Great Tips for Managing Denver Apartment Buildings

5 Great Tips for Managing Denver Apartment Buildings

1) Clarify Management Agreement Terms (either professional manager or resident manager)

– Leasing Fees – typically 50% of the 1st month’s rent

– Overall Management Fee – ranges between 6%-12% for apartments, but typically around 10%

2) Advertising

– Everyone knows to use Craig’s List, but you can set yourself apart by creating a rental brochure on V-Flyer (http://www.vflyer.com/) or a Postlets (http://www.postlets.com/) to insert into Craig’s List

3) Rental Application Process

– Charge for accepting a rental application! Suggested minimum charge of $30 per adult applicant

– Make sure all areas are completed (include: emergency contact, cars, pets, etc.)

4) Lease (several options for written form/agreement)

– Become a member of Apartment Association of Metro Denver (http://www.aamdhq.org/)
– Have an attorney draft your lease.  My clients use Foster Graham Milstein & Calisher, LLP (http://www.fostergraham.com/) and Tschetter · Hamrick · Sulzer (http://thslawfirm.com/) to name a few

– Include all addendums, lead based paint, etc.

– Specify which utilities tenant pays, who is responsible for lawn care, how pets are handled.

– Make sure all adult occupants sign the lease (it sounds fairly obvious, but it doesn’t always happen)

5) Apartment Tenant Move In/Move Out

– Move-in: checklist is very important

– Move-out: Security Deposit disposition – what does your lease specify – 30 or 60 days?  Maximum timeframe for release of funds is 60 days

 

For more helpful information about how Denver’s apartment market and what the boutique apartment owner wants to know, please continue to visit: http://www.denverapartmentbuildingsforsale.com/

 

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Denver Apartment Building SOLD – The Logan Apartments at 231 Logan Street, Denver, CO 80203 – Kyle Malnati (Madison Commercial Properties)

Denver Apartment Building SOLD – The Logan Apartments at 231 Logan Street, Denver, CO 80203 – Kyle Malnati (Madison Commercial Properties)

Denver Apartment Building SOLD – The Logan Apartments at 231 Logan Street, Denver, CO 80203 – Kyle Malnati (Madison Commercial Properties)

KYLE MALNATI – PRINCIPAL FOR MADISON COMMERCIAL PROPERTIES, LTD – IS PROUD TO ANNOUNCE THE FOLLOWING APARTMENT BUILDING SALE IN DENVER:

ADDRESS: 231 Logan Street, Denver, CO 80203

PRICE: $875,000

SALE DATE: 2/29/2012

PRICE/UNIT: $79,545/unit

PRICE/SF: $187.28/SF

UNIT MIX: 11 – Studio

Kyle Malnati, Owner/Principal of Madison Commercial Properties, LTD in Denver, was the only broker involved in this transaction.

SPECIAL THANKS TO:

LENDER: Sam McKelvey & Matt Cornwell – First Bank

TITLE: Sonya Bailey – First American Title

For more information on this apartment building sale in Denver or other Colorado commercial real estate transactions please contact:

Kyle Malnati at 303-771-3850 or kmalnati@madisonprops.com.

www.DenverApartmentBuildingsForSale.com

http://www.madisonprops.com/madisoncommercial.html

www.madisonprops.com

Have a Happy Leap Day! ~ Kyle Malnati, Denver Commercial Real Estate Broker

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