The property was built in 1973. The seller was a local investor from Arvada. The property, consisting of three separate buildings, contains 12 one-bedroom/one-bath and 15 two-bedroom/one-bath units. The property is near a future light rail station. The buyer plans to improve the property and hold it long-term.
"We received numerous offers on this property due to the location and unit mix," according to Terrance Hunt, who handled the sale with fellow Grubb & Ellis brokers Matthew Meredith. "We continue to see elevated buyer interest in properties near future light rail stations."
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.