Just Sold: 840 N. Cherry St. (Denver 17-unit)

Calibrate Real Estate is proud to announce the sale of a 17-unit apartment building in the Hale/Mayfair neighborhood of Denver. Kyle Malnati conducted 23 showings with investors and brokers in December. We received four offers and went Under Contract with a 1031 Exchange Buyer after 1 week of marketing.

Kyle originally represented the Seller when they purchased this 8,949 SQFT property in 2015 and they saw a gain of 26% in just over 5 years with this sale!

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840 Cherry: Denver Apartment Building Sale (Hale Neighborhood)

Kyle Malnati and Greg Johnson sold a 17-unit apartment building, called “Melrose Place,” to a Buyer in a 1031 Exchange. We have been fortunate to have served several repeat clients during our career. In the case of 840 Cherry Street, the Seller and the Buyer both happened to be repeat clients of ours. That type of familiarity can be productive, but familiarity can also breed contempt if you’re not careful. Real estate transactions are complicated, and tax deferred 1031 Exchanges can be especially stressful due to the anxiety associated with the Buyer’s search for a replacement property with a 45-day deadline looming.

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