The price was one of the highest ever paid for an apartmentcomplex of this vintage. "On the face of it, a price of $72,807 perunit for a '70s built apartment complex appears high," ChuckSweeney, the listing and selling broker told GlobeSt.com. But theproperty has several things going for it, says Sweeney, a brokerwith the Denver office of Hendricks & Partners.

First, Fairfield recently spent more than $2 million on therenovation. It rests in the foothills of the mountains, with thekind of views people expect from Colorado. And, it has easy accessto Downtown Denver's Central Business District from E. 6thAvenue.

The project was nearly 100% leased when sold, with rentsaveraging $1.08 per sf. Units average 832 sf, bigger than average.Also, the Colorado Department of Transportation has just completedaccess ramps form C-470--a beltway around a portion of themetropolitan area at Johnson Road, which runs by the property andserves as the main road into Golden. As an added amenity, the cityis planning to build a golf course across from the project.