Apartment Look

Botnick Realty is boosting its presence in Cheesman Park. The firm paid $6.75 million for 1295 Race St. in Denver, also known as the Campbell Stone Memorial Residences , an income- and age-restricted community – located across the street from its Metropolitan Apartments, a mixed-age and -income property. Botnick Realty plans to continue to operate the building for the foreseeable future as housing for low-income seniors, noted Craig Stack of Colliers International Multifamily Advisory Group . “There was a lot of initial interest in the property,” said Stack, noting that due to the low-income and age-restricted nature of the community to individuals 55 and up earning 60 percent of area median income , it drew fewer bids than a market-rate property but still saw 16 offers. The community has been well maintained, included upgraded windows and underwent a number of additional capital improvements over the last 10 years, added Stack. The buyer is expected to make modest upgrades on t...

rose manor apartments " width="600" height="381" /> The Rose Manor Apartments at 16-18 S. Dooley Ave. sold for $1.75 million. ( Jonathan Spiers ) A renovated apartment building in the Carytown area recently sold to an out-of-market buyer in a seven-figure deal. The eight- unit Rose Manor Apartments at 16-18 S. Dooley Ave. sold Aug. 2 for $1.75 million. City property records list the buyer as Silver Mountain Properties Ltd., an entity based in southwestern Virginia. The seller was DiJon Properties LLC , which purchased the two-story, 8,200-square-foot building in 2009 for $435,000 and renovated the property in 2014. The latest city assessment valued the 0.12-acre property at $975,000. DiJon Properties was represented in the deal by Matt Hamilton, Jackie Noel and Bruce Milam of Colliers International’s Richmond office. Silver Mountain was represented by Ryan Tyndall of Washington, D.C.- based Bediz Group LLC , an affiliate of Keller Williams Capital P...