Denver investor acquires South Broadway retail/apartments

422
422
Share this Article
Facebook Twitter LinkedIn Google Pinterest StumbleUpon Email

Denver County

1. Address: 76-98 S. Broadway, “The Werner Building” & One East Bayaud Ave., “The White Palace Apartments,” Denver

Improvements: The White Palace Apartments includes 20 units (10 one-bedroom/one-bath units at 550 sf that rent for $1,395; eight one-bedroom/one baths @ 420 sf that rents for $1,345/mo.; and two one-bedroom units @ 420 sf renting for $1,325 per month. The building size is 9,700 sf of rentable space, constructed in 1922. The commercial building includes a two-story retail/apartment combination. The retail space contains 5,618 sf and was built in 1922, brick construction. The buildings were completely renovated by the seller. The Werner Apartment contain eight units (all one-bedroom units) with 5,600 sf, YOC 1922, completely renovated in 2016.

PMQ 4Q Banner 300 x 250

Land Size: 15,706 sf

Date of Recording: 3/29

Reception No.: 2018040288

BD 4Q 2018 Banner 300 x 250

Price: $2.8M

Grantor: White Palace LLC, Debra Tepper, mgr.

Grantee: Bayaud Investors LLC, Derek Vanderryst, 303-984-9800

BD 4Q 2018 Banner 300 x 250

Comments: Lots 20-24, Block 1, Pierce and Hinman’s Addition to Broadway Terrace. The units were renovated, including new kitchens, quartz countertops, stainless steel appliances, new bathrooms, flooring and windows. These units also have in-wall air conditioning, window blinds, new tile in bathroom, gas range. Pet fee is $20 per month. The two-story Werner Building has Badgers Sports Bar; Famous Pizza closed after 43 years in the business, Abstract Streetwear. The buyer managed the property prior to the time that he closed on the mixed-use apartments and retail space.

2. Address: 204-214 & 230-282 W. Ellsworth Ave., Denver

Improvements: 8-unit apartment building, all one-bedroom units, YOC 1954, 5,342 sf, brick construction (recently remodeled); 6-unit apt. (all one bedrooms) w/2,728 sf, YOC 1954, brick, total of 14 units with 8,070 sf

Land Size: 17,450 sf

Date of Recording: 3/29

Reception No.: 2018040286

Price: $1.2M, or $148.70 psf, or $85,714 per door

Grantor: Baker Bungalows LLC, Debra Tepper, mgr.

Grantee: Bayaud Investors LLC, Derek Vanderryst, 2075 S. Fillmore St., Denver 80210

Comments: Lots 13-14 & Lots 18-20 plus west 15’ of Lot 17, Block 2, Patterson’s Subdivision. The units were renovated with new kitchens, quartz countertops, stainless steel appliances, new bathrooms, flooring and windows; 230 W. Ellsworth Ave APN: 5103-17-067; 204 W. Ellsworth APN: 5103-17-066

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]

In this article