Denver, CO Capstone has closed the sale of 3070 West Colorado Ave., a 5,052 s/f multifamily property for the sale price of $1.435 million. Benton Adams and Sean Holamon of Capstone represented both the buyer and seller in this transaction.
The property consists of six 1 bedroom / 1 bathroom units and one 2 bedroom / 1 bathroom unit. 3070 W Colorado Av.e recently underwent a renovation.
3070 West Colorado Ave. is conveniently located in the Mar Lee Neighborhood, at the intersection of West Colorado Ave. and Federal Blvd. The property provides easy access to 6th Ave. Freeway and Downtown Denver.
The out of state buyer was in a 1031 exchange and this asset fit what they were looking for both in returns and level of quality. The buyer plans to hold the asset for the foreseeable future.
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