Calibrate Real Estate announces that Conner Piretti, Greg Johnson, and Kyle Malnati worked with both the Buyer and Seller in the sale of a 5-unit apartment building at 849 Washington Street in Denver, Colorado.
Almost every real estate listing can be distilled to three primary concerns for the Seller: price, time, and stress. The Seller presented Calibrate Real Estate with a challenge… “please find a no-drama, all-cash buyer and get this property sold in less than one month’s time!” We achieved their objective by closing in just 10 business days.
A special component of this story was shared at the closing table where the Seller informed us that they had owned this rental property for 44 years! We are honored and humbled to play a special role in a real estate investor’s journey as their success is realized at the finish line. We firmly believe that we don’t just broker real estate… we are in the business of brokering legacy for our clients.
The Buyer purchased this property using funds from a 1031 Exchange. They are a well established real estate family that owns several vintage buildings in Central Denver. More details about this sale are provided below:
Denver Neighborhood: Capitol Hill
Address: 849 Washington Street, Denver, CO 80203
Sale Date: June 8, 2017
Sale Price: $832,000
Price/SF: $169.66 (rentable)
# of Units: 5
Unit Mix: 1-3Br, 3-2Br, 1-1Br
Building Size: 4,904* SF
Lot Size: 6,250* SF
Year Built: 1912
Parking Spaces: 6
*Reader to verify accuracy of square footage. Building size was calculated by combining rentable square footage: 3,970 (above grade) and 934 (finished basement). Square footage data was obtained from Denver County Assessor’s website.*
– Ideal for a handyman owner/operator
– Great value-add opportunity
– Convenient Denver location with quick access to downtown
– Amazing off-street parking lot (6+ spaces)
– Upside in rent/operations
Calibrate Real Estate (303) 482-2828
900 E. Louisiana Ave. #203, Denver, CO 80210