Arvada apartment building purchased by Boulder investors for $10.8 million

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Jefferson County

Property Location: 12155 W. 58th Place, Arvada

Property Description: 58-unit, three-story apartment building with 60,208 sf, YOC 1982, brick construction with mansard roof

Land Size: 2.36 acres

Sales Price: $10.83M, or $186,638 per door, or $179.79 psf

Reception No.: 2017102020

Closing Date: 10/3

Grantor: 29SC Village West LP, Stanley Beraznik, mgr., 312-379-8934

Grantee: 12155 W. 58th PL LLC, Caitlin & Jacob Durling, mgr.

Financing: $5.86M due 11-1-24 payable to Hunt Mortgage Partners LLC of New York City

Comments:  The property was listed and sold by Unique Properties LLC Apartment team, 303-321-5888. This property sold in September 2015 for $7.95 million, reflecting a gain of 36.22% in slightly over two years. The unit mix and rental rate is as follows: 10 one-bedrooms @ 730 sf and rents at $1,100, or $1.51 psf; 48 two-bedroom/two-baths @ 975 sf that rent for $1,300, or $1.33 psf.

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 [email protected]

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