Capstone closes sale $1.6 million of three seperate multifamily buildings

Capstone has closed the sale of 5100, 5150 & 5180 West Kentucky Ave., three separate multifamily buildings with 1,630 s/f per building, for the sale price of $1.6 million. Benton Adams of Capstone brokered the transaction.

After years of conversations with Benton Adams of Capstone the seller chose to pursue off market offers due to the political landscape of the Denver multifamily market. Through a valuation process the seller was able to understand true market value in the current lending environment and chose to move forward with the second offer we brought to the table. These triplexes were built in 1962 with a unit mix of 6 two-bedroom/ one-bath units and 3 three-bedroom/ one-bathroom units. Ample amount of off-street parking, community courtyard and washer and dryer hook-ups in all units.

The buyer engaged Capstone in an exclusive capacity in order to secure true off market, value add opportunities. By leveraging Capstone Apartment Partners off market deals, contractor/inspection relationships and unique lending connections the buyer was able to purchase the deal with attractive financing terms and ultimately close the deal ahead of schedule.