Capstone has closed the sale of the Newark Apartments, a 40-unit multifamily property consisting of 37,500 SF for the sale price of $5,400,000. Jason Koch of Capstone represented the Seller, Newark Apartments, LLC. Sean Holamon of Capstone represented the Buyer.
There are 40 units with 20 one beds, 19 two beds and 1 studio. The one beds are 750 SF and the two beds are close to 1000 SF. All units have outdoor patios and each floor has washers and dryers for tenant convenience.
The Newark Apartments are conveniently located at 11600 E 16th Ave, Aurora, just a few blocks west of Fitzsimons medical campus. Fitzsimons employs over 30,000 people and continues to grow.
The seller has owned the property for almost 8 years, and he was able to capitalize on a great investment. The buyer plans to make upgrades to the units and interior hallways and increase revenue over time.
Please call or email today to find out how we are different than the average apartment advisors.
About Capstone:
The goal of Capstone is to help generate, maintain, and increase the value and profitability of our clients’ multi-housing investment properties. To do so, we provide comprehensive multi-housing advisory services in asset acquisition and development, strategic ownership decisions, market insight and positioning, property value analysis, and disposition brokerage to support our clients in every stage of ownership. This comprehensive multi-housing-focused service offering paired with our relentless drive to win on behalf of our clients is what sets us apart from pedestrian brokerage firms. Capstone simply put: Expertise. Experience. Extra-Mile.
