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Compass Acquires Multifamily Property At 1280 Albion St. In Denver For $6.1M
SOLD
$6,100,000
Colorado
See Similar DealsMultiFamily
Sold 05/09/2024
SOLD
Compass Acquires Multifamily Property At 1280 Albion St. In Denver For $6.1M
1280 Albion Street
See Similar DealsMultiFamily
Sold 05/09/2024
Summary
COLORADO
Asset Type:MultiFamily
Transaction Type:Sale
The Glenwood, a 24-unit multifamily property located at 1280 Albion St. in Denver, Colorado, was recently sold for $6.1 million, translating to $254,166 per unit.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,100,000
- Address: 1280 Albion Street
- Market: Denver, CO
- Units: 24
- Price Per Unit: $254,166
- Buyer's Representative: Compass
- Seller's Representatives: Conner Piretti & Greg Johnson - NorthPeak Commercial Advisors
NorthPeak Commercial Advisors played a pivotal role in facilitating the sale of The Glenwood, bringing together the buyer represented by Compass and the sellers, Conner Piretti and Greg Johnson. The transaction underscores the vibrant real estate market in Denver, showcasing the value and potential of multifamily properties in the area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$325,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,672.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,917.11
Annual Debt Service$347,005.34
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