Calibrate Real Estate is pleased to announce the successful sale of 1140 North Marion Street, a 9-Unit apartment building in the Cheesman Park neighborhood! The property sold for $2,300,000 or $255,555/unit.
Kyle Malnati and Sam Bretz represented the Seller, an experienced Denver multifamily investor, in our 33rd successful sale in less than one year! This property is ideally located in Central Denver and was owned by the Seller’s family for several decades. A fun fact is that the Seller used to occupy Unit #1 as their leasing/management office until they found a more perminant office space in 2009.
Kyle Malnati and Sam Bretz co-op’d with Jay Peterson of West Peak Properties to secure a Contract to Buy/Sell for an out-of-state Buyer after just 4 days on the market. Jay’s calm demenor was instrumential to the process as he patiently completed rounds of inspection negotiations while gathering and analyzing financials.
“Financing transactions has become a delicate balancing act as interest rates have been on the rise throughout 2022. I introduced the Buyer to the Seller’s existing lender (First Western Trust) which helped to get our deal closed. We were able to create a winning situation for all parties; the Seller paid off debt, the Buyer secured financing, and bank was able to keep great collateral in their portfolio. We believe that successful commercial real estate brokers will need to help their clients source debt more often as the market continues to soften.” ~Kyle Malnati, CEO/Founder of Calibrate Real Estate.
The mission of Calibrate Real Estate is: “we exist to help people create generational wealth through real estate.” We believe that is our calling, our responsibility! At the core of our mission, we work with families. The Seller’s family is our most recent example of how we love serving at Calibrate Real Estate.
