Investor lands Applewood Apartments for $7M

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Jefferson County

Property Location: 1975 Oak St., Lakewood, “The Applewood Apartments”

Property Description: 42-unit apartment complex, 4 buildings, 34,150 sf, YOC 1973, brick construction, 74 carports & 38 interior storage units

Land Size: 2.44 acres

Sales Price: $7.01M, or $166,786 per door, or $205.12 per sf

Reception No.: 2018007922

Closing Date: 1/25

Grantor: Lewis Joliet Applewood LLC, John R. Weaver, mgr., 303-807-5376

Grantee: Tangiers 24 LLC, Jeffrey P. Kramp, mgr.

Financing: $5.6M payable to CBRE Loan Services Inc. (FHLMC), due 2-1-38

Comments: Property listed and sold by Spencer Bradley of ARA Newmark, 303-260-4427. There are 14 one-bedrooms @ 575 sf that rent for $960 per month, 24 two-bedroom/one-baths @ 875 sf that rent for $1,225 per month; and four three-bedrooms/two-bath units @ 1,275 sf that rent for $1,500 per month.

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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