MMG has closed the sale of a 6,375 square foot multifamily community located at 5360 S Elati Street in Littleton, Colorado for the sale price of $1,175,000 or $146,875 per unit.
Christian Burgdorf, Austin Smith, & Jason Koch of MMG brokered the transaction.
The property has seen several upgrades over the years including updated electrical throughout the building and unit remodels featuring stainless steel appliances, wall-mounted A/C units, new cabinets, fresh paint throughout, and LVP flooring. Residents enjoy one free off-street space, and the parking lot will be refinished soon for on-site parking opportunities.
5360 S Elati Street is located alongside Elati Park in Littleton. The property is a short drive to downtown Littleton giving tenants access to several restaurants, bars and entertainment options in town. The buyer purchased this property with proceeds from a 1031 exchange and they plan to renovate the remaining units and enjoy the cash flow this asset provides.
Situated about ten miles south of Downtown Denver, Littleton is frequently recognized as a great place to live. Founded in 1890, Littleton is proud of its rich heritage. The city honors its past with the Littleton Historical Museum, a living museum that recreates life on a 19th-century farm and homestead with extensive exhibits and rare artifacts.
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