MMG has closed the sale of 5580 W 4th Avenue a 13,890 square foot multifamily property in Lakewood, Colorado for the sale price of $3,225,000. Benton Adams of MMG brokered the transaction.
This property features 13 total units across two stories consisting of one 2 bedroom/2 bathroom and twelve 3 bedroom/1.5 bathroom units. A unique unit mix, with large square footage commands a strong in-place rent, however, the opportunity to remodel presents investors with a chance to boost rents. The property was offered with attractive seller financing terms, allowing both the buyer and seller to avoid the difficult lending environment and come to mutually beneficial terms.
5580 W 4th Avenue is conveniently located off 4th Avenue and Sheridan Boulevard, offering excellent access to 6th Avenue and I- 25. This is a great location for renters needing to be close to Denver and the surrounding areas while having easy access to the mountains. North Alameda is located directly north of Belmar, Lakewood’s downtown district. North Alameda is filled with parks, restaurants, and stores, but residents take full advantage of living near the heart of the city.
The buyer plans to renovate the property and continue to push the rent roll while holding onto the asset for the foreseeable future for long term appreciation.
Through our competitive direct to investor marketing process, we were able to gather 9 offers in under two weeks from a wide range of investors.
MMG is a leading real estate advisory firm specializing in multifamily and land transactions across the United States. With a commitment to personalized service, industry expertise, and innovative solutions, MMG partners with clients to maximize the value of their investments and achieve sustainable growth.
