Seller's Market Brings Nearly $1.3 Million for 30 Units

DENVER-It's a seller's market in Denver, with a 30-unit complex bringing in nearly $1.3 million from a pair of investors. The property carries an $831,000 appraisal value, according to GlobeSt.com research

By John Rebchook | August 22, 2000 at 01:01 AM

Investors Paul and Joyce Johanson are buying the Keri Lyn Apartments at 5340 W. 10th Ave. in Lakewood, a Denver suburbs. The sale price is a 53.4% premium for its appraised value of $831,000, according to a search of public records by GlobeSt.com.

The 32-year-old property consists of 10 studios, 19 one-bedroom units and one two-bedroom apartment, according to Grubb & Ellis, who handled the sale.

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