Denver, CO – September 30, 2021 – NorthPeak Commercial Advisors, LLC is pleased to announce the sale of 1126 Lafayette St, located in Denver, CO.
Principals Scott Fetter & Joe Hornstein (NorthPeak Commercial Advisors) represented both sides in this transaction.
“This 5-unit multifamily property in the heart of Cheesman Park has been under the same ownership for years. With some potential changes to real estate taxes looming the Seller decided it was finally time to move on and reap the rewards of her diligent maintenance of this great building. The low cap rate did not deter an experienced buyer from putting this property under contract at close to full price. The buyer has a history of purchasing historic properties like this one and injecting the capital to take the asset to the next level. This was a smooth transaction all the way around and I believe everyone is happy with the result.” – Scott Fetter, NorthPeak Commercial Advisors.
For more information on this investment or current market conditions, please contact Scott Fetter at 720-470-3646 or Scott@NorthPeakCRE.com.
SALE HIGHLIGHTS
Property Type: Multifamily
Closed Date: September 30, 2021
Address: 1126 Lafayette St | Denver, CO 80218
Sale Price: $1,277,000
Number of Units: 5 ($255,400/Unit)
Property SF: 4,592 SF ($278/SF)
Cap Rate: 4.50%
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.
