Commerce City, CO – May 18, 2022 – Kaufman Hagan facilitated the sale of 5800 Newport Street, a 6 Unit Multifamily property located at Commerce City, CO 80022 in Denver, for $1,600,000.
Kaufman Hagan Broker Will Scherman represented both the Buyer and Seller in this transaction.
“This property was an excellent reminder that great returns can be found in undervalued submarkets and that sometimes utilizing unconventional ‘master’ leasing structures with property managers can be advantageous for investors and managers alike. In this particular case, having a master lease for the property allows the property manager to capitalize on surges in leasing rates surrounding events at Dick’s Sporting Goods Park. Please reach out to me directly if you’d like to hear more about this deal and others like it!”
Will Scherman, Kaufman Hagan Commercial Real Estate
For more information on this transaction or to discuss multifamily investing, please contact Will Scherman at 303-817-9325 or will@khcommercial.com.
SALE HIGHLIGHTS
- Property Type: Multifamily
- Closed Date: May 18, 2022
- Property: 5800 Newport Street, Commerce City, CO 80022 | 6 Units | 5,448 SF
- Sale Price: $1,600,000
- Price/Unit: $266,667
- Price/SF: $294
