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DENVER-Barry L. Brown, a local investor, has paid $1.65 million for the 18-unit Gaylord apartment building at 1220 Gaylord St. The seller was 1220 Gaylord LLC, also of Denver. According to public records reviewed by GlobeSt.com, the seller purchased it in 1997 for $570,000. That equates to an 85% return on the investment, although it doesn’t factor in any costs of improvements.

Property records list the entire value of the building at $1.057 million. In other words, Brown paid 54% more than the total value of the property that’s listed in the real estate tax records. John Laratta and Dianne Sweeney of the Denver office of Hendricks & Partners negotiated the transaction.

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