Capstone has closed the sale of 6981 Ash Street in Commerce City, a 14-unit multifamily property for the sale price of $1,905,000. Austin Smith of Capstone represented the buyer in the transaction.
6981 Ash Street was built in 1963 and is an 11,664 square foot building. The 14 units are a mix of studios, 1 bedroom, 2 bedroom and 3 bedroom apartments which allows for a very diverse tenant base and families of all sizes. The interior hallways help keep the community safe and the playground in the back is a great amenity for children.
The buyer plans to continue to make 6981 Ash Street a safe and desirable place to live for the tenants as well as make upgrades throughout the building, inside and out. They will refresh the exterior and landscaping, upgrade the common areas to be cleaner and brighter, and renovate units as tenants move.
Located about nine miles northeast of Denver, Commerce City is a growing, dynamic suburb home to industry, agriculture, and outdoor recreation. Commerce City contains the nation’s largest urban wildlife refuge, the Rocky Mountain Arsenal National Wildlife Refuge, where visitors can spot all kinds of wildlife, such as bison, owls, bald eagles, and mule deer. Commerce City residents enjoy access to 840 acres of open space and parks as well as 25 miles of trails. Options for outdoor activities are endless at Commerce City’s Pioneer Park and Fairfax Park in addition to the nearby Barr Lake State Park and the South Platte River.
The goal of Capstone is to help generate, maintain, and increase the value and profitability of our clients’ multi-housing investment properties. To do so, we provide comprehensive multi-housing advisory services in asset acquisition and development, strategic ownership decisions, market insight and positioning, property value analysis, and disposition brokerage to support our clients in every stage of ownership. This comprehensive multi-housing-focused service offering paired with our relentless drive to win on behalf of our clients is what sets us apart from pedestrian brokerage firms. Capstone simply put: Expertise. Experience. Extra-Mile.
