Calibrate Real Estate is pleased to announce the successful sale of 2402-2404-2408-2410 7th Avenue and 620-622 24th Street, a 6-unit apartment building near the University of Northern Colorado in Greeley. The property sold for $1,050,000 or $175,000/unit. Jake Lowell represented the Buyer as they completed a 1031 Exchange; Kyle Malnati and Sam Bretz represented the Seller in the transaction.
“The Buyer hired me to sell his 6-unit in Lakewood when I was able to find this 6-unit off-market. Kyle and I hatched the idea during a mentoring, sales meeting at our office called: “Caliborators.” I shared with Kyle that I could get a signed listing agreement for the relinquished property in Lakewood property if I could just find a replacement property in Greeley, because the Seller’s son lived nearby and wanted to help his dad with management.” ~Jake Lowell, Commercial Realtor at Calibrate Real Estate.
“The Seller purchased the property 4 years ago and methodically completed the renovation of 5 apartments as tenants moved out over the first 2 years of ownership. Then the Seller moved back to Chicago during the COVID pandemic in 2020 to be closer to family. The Seller saw an opportunity to take a profit and 1031 Exchange the funds into a much larger replacement property Illinois after managing the Colorado 6-unit from afar for 2 years.” ~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. Both the Buyer’s family and the Seller’s family are our most recent examples of how we love serving our clients at Calibrate Real Estate.
