Adams County
Property Location: 4703 W. 52ndAve., Denver, “Berkeley at Regis Apts.”
Property Description: 127-unit, three-story townhome/apartment units containing 13 buildings & clubhouse, 128,707 sf, YOC 1999 & 2003
Land Size: 6.69 acres
Sales Price: $30.75M, or $242,126 per door, or $238.91 psf
Reception No.: 88006 2018
Closing Date: 10-26
Grantor: Fifteen Regis LLC (Ian Sanders, founder), 305-938-4300
Grantee: Berkeley at Regis Owner LLC by: Oak Coast Properties, Phillip Nahas & Matthew Heslin, managing partners, 949-297-4460
Financing: $22.03M payable to HFF LP (Houston), due 11-1-2033
Comments: Units mix is as follows: (31) 2/1 @ 775 sf, rent for $1,499, or $1.93 psf; (20) 2/1 @ 861 sf rent for $1,549, or $1.80 psf; (10) 2/1 @ 898 sf rent for $1,599 or $1.78 psf; (15) 3/1 @ 918 sf rent for $1,749, or $1.91 psf; (15) 3/1 @ 952 sf rent for $1,599 or $1.68 psf; (36) 4/2 @ 1,497 sf rent for $2,199 to $2,417, or $1.47 psf to $1.61 psf. This property sold exactly three years ago, Oct. 26, 2015, for $26.68M, or $210,039 per door. The rental rate at that time was $1,535 for the two-bedroom/one-bath models with 775 sf, compared to $1,499 as of Oct. 31, 2018. The annual growth rate (appreciation rate) is a modest 4.85%, or a total of 15.28% for the three-year period.
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.
