Denver County
Property Location: 2455 S. Gaylord St., Denver
Property Description: 10-unit, two-story walkup-style apartment, 8,639 sf, YOC 1958, brick construction (all two-bedroom units) with six parking spaces
Land Size: 7,810 sf
Sales Price: $1.93M, or 2,500 per door, or 2. (loscoches.com) 83 per sf
Reception No.: 2016106916
Closing Date: 8/11
Grantor: NJL Properties LLC, Judith & Nicholas Lancy, members
Grantee: 2455 South Gaylord Street LLC, Kristen N. Mihalcin, general manager
Financing: $1.64M payable to First National Bank of Denver; second $385,000 payable to the seller, four-year note, step-up interest rate beginning at 5.5%
Comments: Property listed by Pinnacle Real Estate Advisors (Calame/Lewallen) with Thomas Graeve, 303-962-9539. Expenses are projected at $14,789 per door. The cap rate with no property management and 3% vacancy reflects 6.28%.
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.
