Adams County
Address or Location: 9440 Hoffman Way, Thornton, “Sierra Vista Apts.”
Improvements: 100-unit apartment with 94,995 sf, YOC 1972, frame & masonry construction
Land Size: 6.21 acres
Date of Recording: 11/01
Reception No.: 101865 2017
Price: $17.4M, or $174,000 per door, or $183.17 psf
Grantor: Alta Sierra Community, Todd Kaufman, mgr., 818-235-1444
Grantee: Sierra Vista Apartments LLC, c/o Summit Communities LLC, Remington T. Green & Jeffrey L. Young, 303-900-2242
Financing: $13.92M payable to CBRE Capital Markets, due 12-1-2024
Comments: See APN: 1719-23-2-06-003. This property sold 8/4/2014 for $10.05M, which reflected an increase in value of 73.22% for the seller. There are four models: One-bedroom/one bath is 660 sf, rents for $1,030 to $1,130 per month; rents are $1,169 to $1,269 per month for two-bedroom/one-bath units @ 760 sf; rents are $1,316 to $1,413 for 800-sf two-bedroom/one-bath units; and $1,497 to $1,597 for 960-sf three-bedroom/1.5 baths.
Comp of the Day is provided by John V. Winslow, president of Winslow Property Consultants. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.
