Uptown apartment building fetches $7.8M

1626 Logan St

The apartment building at 1626 Logan St. sold for $7.85 million. Credit: Calibrate Real Estate

An Uptown apartment complex has sold for $7.85 million, up 76 percent from the last sale six years ago.

The four-story building at 1626 Logan St., known as the Thomas Jefferson Apartments, was purchased this week by 1626 Logan Street LLC, according to county records.

The building, which dates to 1941, was sold by Denver-based Hogarth Property Co., known as HPC Denver. The company, acting as Filross 1626 LLC, paid $4.45 million for the property in May 2013, according to county records.

Brokers Kyle Malnati, Greg Johnson and Conner Piretti of Calibrate Real Estate represented the buyer and seller in the latest deal. The property originally was listed at $8 million.

The building has 52 units, so the deal works out to $150,961 per unit, or $377 a square foot, according to Calibrate. All but two units are occupied, with rents ranging from $885 a month for a studio to $1,295 a month for a one-bedroom apartment.

According to its website, HPC still owns a mixed-use building on Lafayette Street in Uptown, an apartment building on Sherman Street in Capitol Hill and a set of duplexes in Congress Park.

1626 Logan St

The apartment building at 1626 Logan St. sold for $7.85 million. Credit: Calibrate Real Estate

An Uptown apartment complex has sold for $7.85 million, up 76 percent from the last sale six years ago.

The four-story building at 1626 Logan St., known as the Thomas Jefferson Apartments, was purchased this week by 1626 Logan Street LLC, according to county records.

The building, which dates to 1941, was sold by Denver-based Hogarth Property Co., known as HPC Denver. The company, acting as Filross 1626 LLC, paid $4.45 million for the property in May 2013, according to county records.

Brokers Kyle Malnati, Greg Johnson and Conner Piretti of Calibrate Real Estate represented the buyer and seller in the latest deal. The property originally was listed at $8 million.

The building has 52 units, so the deal works out to $150,961 per unit, or $377 a square foot, according to Calibrate. All but two units are occupied, with rents ranging from $885 a month for a studio to $1,295 a month for a one-bedroom apartment.

According to its website, HPC still owns a mixed-use building on Lafayette Street in Uptown, an apartment building on Sherman Street in Capitol Hill and a set of duplexes in Congress Park.

This story is for our paid subscribers only. Please become one of the thousands of BusinessDen members today!

Your subscription has expired. Renew now by choosing a subscription below!

For more informaiton, head over to your profile.

Profile


SUBSCRIBE NOW

 — 

 — 

 — 

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING [email protected].

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.

EACH MEMBERSHIP WILL ONLY FUNCTION ON UP TO 3 MACHINES. ACCOUNTS ABUSING THAT LIMIT WILL BE DISCONTINUED.

FOR ASSISTANCE WITH YOUR MEMBERSHIP PLEASE EMAIL [email protected]




Return to Homepage

POSTED IN Commercial Real Estate

Editor's Picks

Leave a Reply

Your email address will not be published. Required fields are marked *