The Flats on 32nd, a 37-unit multifamily community in Denver, recently traded for $7.5 million.
JDSM W 2860 32nd Ave LLC purchased The Flats on 32nd from Shinji Wakura, according to public records.
Located at 2860 W. 32nd Ave., The Flats on 32nd comprises 10 studios, five one-bedroom and 22 two-bedroom units. The exterior walk-up apartments feature off-street tenant parking and a fenced courtyard with greenspace.
Austin Smith of Nexus Commercial Realty LLC represented the seller and Brandon Kaufman and Nik MacCarter, also of Nexus Commercial Realty, represented the buyer.
The property is located in the heart of the Highlands neighborhood, near the intersection of West 32nd Avenue and Federal Boulevard. The building sits near Highland Park and is blocks from the Highlands Square District.
The seller has put significant capital into the mechanics of the building recently and is capitalizing on the appreciation of the location and building over the last five years, according to Nexus Commercial. The buyer plans to continue to operate the building at a high level as well as inject capital into the units to create the best community for the tenants, the firm added.
