Half-acre site along Welton in Five Points sells for $2.4M

weltons

A half-acre site in the 2800 block of Welton Street in Five Points sold for $2.4 million. (Thomas Gounley)

A half-acre site along Welton Street in Five Points has sold.

GFE Welton LLC purchased 2821, 2823, 2831, 2835 and 2843 Welton St. in Denver on Jan. 31 for $2.35 million, according to county records.

The single-family homes and one-story retail buildings that previously were at the site have been demolished. The parcels add up to 0.51 acres, making the deal worth $106.55 a square foot.

The members of the LLC that purchased the property are Patrick Guinness, of Guinness Development, and Oliver Guinness, according to documents associated with the sale.

Patrick Guinness said in an email that the pair and a development partner, whom he declined to disclose, are planning a residential project. He said it was undetermined whether the units would be for rent or for sale.

According to a LoopNet listing, the parcels are zoned C-MX-5, which allows for up to five stories.

Welton Property Investments LLC sold the parcels. The manager of the LLC, Michael Markel, purchased the parcels between August and October 2013 for a combined $1.22 million.

Further down Welton Street, the apartment building at 605 26th St. also sold this week for $3.03 million to 605 26th Street LLC, according to records. It last sold for $2.55 million in December 2016.

weltons

A half-acre site in the 2800 block of Welton Street in Five Points sold for $2.4 million. (Thomas Gounley)

The new owner plans a residential project.

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