Arapahoe County
Property Location: 3470 S. Marion St., Englewood, “South Marion St. Apts.”
Property Description: 20-unit, three-story walk-up style apt. building, 10,728 sf, YOC 1969, brick/frame construction, 20 parking spaces
Land Size: 12,500 sf
Sales Price: $2.49M, or $124,250 per door, or $231.64 per sf
Reception No.: D6094384
Closing Date: 8/24
Grantor: 3470 South Marion Street LLC, Marsha Hennessy, mgr.
Grantee: South Marion Street Property LLC, Alben T. Myren & Amy C. Ducios
Financing: $1.75M payable to JPMorgan Chase, due 9-1-46
Comments: The units are all one-bedroom units with upgraded hot water boilers, insulated roof, high-energy-efficient windows, steel front doors and 80% of AC window units have been replaced. There are newer exterior metal staircases, and a concrete landing and parking lot have been redone. Extensive landscaping was completed. RUBS system is in effect for gas, water, sewer and trash. Units are individually metered for electricity. Cap rate of 6.7% is reflected in the purchase price. This property was listed by William Feinberg of the William Feinberg Companies Ltd., 303-861-4900.
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.
