Arapahoe County
Property Location: 4957 S. Prince Court, Littleton, “Summit Riverside Apts.”
Property Description: 248-unit, three-story apartment with 198,032 rentable sf, YOC 1987, frame (22 studios, 144 one-bedroom units and 82 two-bedroom units)
Land Size: 10.049 acres
Sales Price: $50M, or $201,613 per door, or $252.48 psf
Reception No.: D8007969
Density: 24.68 dwelling units per acre
Closing Date: 1/24
Grantor: Green Leaf Riverside LLC, Thomas A. Hall, mgr., c/o Green Leaf Partners
Grantee: Summit Riverside Apartments LLC, Herbert Newman, mgr., 330-762-4011, 730 W Market St, Akron, OH 44303
Financing: $37.2M payable to CBRE Capital Markets Inc.
Comments: Apartment On-Site Phone: 303-730-8882, The floor plans are as follows: Crystal is a 606-sf studio unit; rent is $1,178/mo. The Rio is a 590-sf, one-bedroom/one-bath unit; rent is $1,128/mo. The Gunnison is a 726-sf, one-bedroom/one-bath unit that rents for $1,175/mo. The Rio Grande is a one-bedroom/one-bath unit @ 744-sf with a rental rate of $1,265/mo. The Poudre is a two-bedroom/1.5-bath unit that rents for $1,369/mo. The Colorado is a two-bedroom/two-bath unit @ 990 sf and rents for $1,469 The Platte is a two-bedroom/two-bath with loft containing 1,158 sf and rents for $1,579/mo. The average unit size is 799 square feet with a monthly average rental rate of $1,292 per month. See APN: 2077-08-4-11-005
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.
