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DENVER-An unidentified local investor recently paid $2.85 million for the Pearl Manor Apartments at 909 Pearl St., in the heart of Capitol Hill. Pearly Manor is a 34-unit, three-story apartment building. It has a total of 23,559 rentable sf. The seller, Barron Properties, had renovated the interior and exterior prior to the sale.

The price equates to $83,676 per unit. That was $20,000 per unit more than the list price, says Terrance Hunt. Hunt and Shane Ozment, both of Apartment Realty Advisors, represented Barron Properties in the transaction. The buyer, Hunt says, owns several buildings in the area.

“Buildings like Pearl Manor rarely come available,” Hunt says. “This building was in superb condition and is located in a prime location. We generated multiple offers at and above the list price.”

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