Turn-of-the-century apartment building sells for $8.2 million

By John Winslow May 23, 2018

Denver County

Property Location: 1010 E. 13^thAve., Denver,“Le Cirque Apartments”

Property Description: 45-unit, three-story apartment w/22,892 sf, YOC 1904

Land Size: 17,062 sf

Sales Price: $8.2M, or $182,222 per door, or $358.20 psf

Reception No.: 2018050658

Closing Date: 5/1

Grantor: Saratoga Le Cirque LLC, Yoshiko Heimsoth, mgr.

Grantee: JM Logan LLC, Jason McCool, mbr., 303-300-6786

Financing: $5.74M payable to FirstBank, @ 4.9% due in 10 years

Comments: This sale was handled by Kevin Calame of Pinnacle Real Estate Advisors LLC. Studio units rent for $1,115/mo., or $2.63 psf, while one-bedroom units containing 502 sf rent for $1,265, or $2.52 psf. There are 13 studios, 25 one-bedroom units and seven two-bedroom units.

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.