Nexus Commercial Realty, LLC, has closed the sale of the Olive Tree Apartments, a 24-unit multifamily property for the sale price of $4,850,000. Jason Koch of Nexus represented the Seller, Nik MacCarter & Brandon Kaufman of Nexus represented the Buyer in the transaction.
The 24-unit building consists of a rare unit mix of 1, 2, 3 & 4 bedroom units. The property is separately metered for gas & electric, and includes a tenant off-street parking lot.
The Olive Tree Apartments are located at 2550-2560 Ogden Street, near the intersection of North Downing & East 26th Avenue. The property is in an excellent location, less than a mile away from Denver’s historical Five Points District.
The buyer plans to continue operating the property as is for the duration of the LIHTC agreement, realizing that there is a need for low income housing in the neighborhood. The buyer hopes that the area around the buildings will continue to improve and grow with the city over time.
The seller plans on redeploying the equity in the building to a new investment with more units and higher cash flow.
Nexus Commercial Realty, LLC, has closed the sale of 1509-1515 E Caramillo St, a 2,944 SF, 4 Unit property for the sale price of $565,000. Jeff Dimmen of Nexus represented the Seller & the Buyer on this transaction.
This property has a great unit mix of renovated 2 bed, 1 bath units sitting at about 740 SF each. All units have their own washer and dryer, including their own private yards. The property also has stunning views of the Front Range area and of Patty Jewett golf course.
1509-1515 E Caramillo Street is conveniently located directly off E Caramillo Street and is in between Janes Lane & North Foote Avenue. The property is situated in a central location offering direct access to N Union Blvd, Uintah Street & N Nevada Ave.
The Buyer plans to enjoy the steady cashflow from this asset.
Nexus Commercial Realty, LLC, has closed the sale of 204 Wolfe Ave, a 3,846 SF duplex for the sale price of $710,000. Jeff Dimmen of Nexus represented the Seller & the Buyer on this transaction.
This 1979 duplex is nestled in the heart of the beautiful Broadmoor area and sits at the base of Cheyenne Mountain. The property features one 3 bed/3.5 bath and one 3 bed/ 2.5 bath unit with one car garages. Both units have private fenced backyards and decks off the master bedrooms that offer stunning views of the mountains.
204 Wolfe Avenue is conveniently located off Wolfe Avenue and Canis Lane. The property is minutes from The Broadmoor Hotel and offers direct access onto Cheyenne Blvd, which leads to Interstate 25. The property is within driving distance to several recreational areas and located in the coveted Cheyenne Mountain school district.
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About Nexus Commercial Realty, LLC:
Nexus is a full-service firm for the commercial real estate industry in Denver. Specializing in high caliber solutions developed for owners and investors, we deliver specialized services such as acquisitions, dispositions, seller representation, buyer representation, and consultation regarding commercial properties. We provide high caliber services to owners and investors delivered with the focused attention only a privately-owned firm can offer. With over 25 years of combined experience, our Colorado roots are deep because our market experience in commercial real estate is firsthand. This positions us to help clients reach their business and financial goals while ensuring their best interests are always protected. As a team, we might not appear as your typical brokerage – and that’s by design. Even though we’ve been in the industry for more than two decades, we are as enthusiastic, energetic and collaborative as when we first started. At Nexus, there is no internal competition because our purpose is aligned. This reduces internal competition and makes us more productive on a per broker/agent basis. We love coming to work every day because we love helping our clients achieve their goals. You might find us in jeans instead of slacks, outside meeting people instead of in our office. We do things differently because we are different.
For more information, please visit www.nexus-cr.com.
