DENVER-Two individual investors have acquired a 13-unit complex in the historic Park Hill neighborhood from three other private individuals, according to Apartment Realty Advisors. The property is at 1530 Krameria St., report principal Terrance Hunt and associate Shane Ozment of Apartment Realty Advisors.
The complex traded for slightly more than $1 million, with Hunt and Ozment representing the three individual investors who sold the property. The building, which was constructed in 1948, consists of five one-bedroom units and eight two-bedroom units.
"We had tremendous interest in the property due to the unit mix, the character of the building and the location," says Ozment. The buyer plans to hold the building for a short period and eventually convert each unit into condominiums.
The brokers say that prospective buyers found the deal appealing for a number of reasons, including the property's central location in the Park Hill neighborhood. It is close to Downtown, near transportation and close to major developments including Stapleton, Lowry, Fitzsimons and the Colfax redevelopment projects.
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