Denver, CO – August 23, 2021 – NorthPeak Commercial Advisors, LLC is pleased to announce the sale of 2880 Harrison St., a 3-unit apartment building located in Denver, CO.
Senior Advisors Conner Piretti & Greg Johnson (NorthPeak Commercial Advisors) represented the Seller in this transaction.
“We’re pleased to be a part of the Seller’s success story at 2880 Harrison. The Seller purchased the property through us in 2017 and increased the rents through improved management and cosmetic updates. This led to a 40% increase in value in just 4 years. The Buyer plans to update the property further and expects rents to continue increasing as the area benefits from the new construction happening throughout the neighborhood.” – Conner Piretti, NorthPeak Commercial Advisors.
For more information on this investment or current market conditions, please contact Conner Piretti at 303-818-1805 or Conner@NorthPeakCRE.com.
SALE HIGHLIGHTS
Property Type: Multifamily
Address: 2880 Harrison St. | Denver, CO 80205
Closed Date: August 23, 2021
Sale Price: $894,000
Number of Units: 3
Price / Unit: $298,000
Building Size: 2,500 SF
Price / SF: $358
Cap Rate: 6.20%
About NorthPeak Commercial Advisors
We’re a collection of experienced real estate brokers committed to relationships built on results. We share a belief that our client’s goals take priority over our transaction results and we’ve been rewarded with long-term relationships with investors who trust us. As a brokerage, we are committed to remaining a small firm with high caliber individuals allowing investors more access to experienced advisors – we stress quality over quantity. The not-so-secret to our success is our 50+ years of investment experience in the Denver market and our commitment to collaboration among ourselves and our peers. Sharing our relationships and opportunities with other brokers in our market assures our clients access to the best deals. We aren’t defined by our individual success, we are defined by the success of investors who we are fortunate to call clients.
