Issue #27

MADISON & CO. PROPERTIES

Central Denver Apartment Market Report 2013 - 3rd Quarter

www.DenverApartmentBuildingsForSale.com

The purpose of this newsletter is to provide insight on the direction of the apartment market in Central Denver, and to recap the transactions that occurred in the 1st & 2nd Quarter of 2013. For more detailed information, or to discuss your investment opportunities, please contact us at (303) 771-3850 or visit our website at: www.DenverApartmentBuildingsForSale.com

All About Madison

Madison Commercial Properties is a Denver-based commercial real estate group specializing in apartment brokerage and investment sales in central Denver. Principals, Kyle Malnati and Greg Johnson, provide insight and experience to meet the needs of the private apartment investor. Combined, they have successfully brokered over $160,000,000 of Colorado real estate for their clients.

Madison & Company Properties LTD - 1221 S. Clarkson St. Ste. 300 - Denver, Colorado 80210

KMalnati@MadisonProps.com - GJohnson@MadisonProps.com

www.DenverApartmentBuildingsForSale.com - www.MadisonProps.com

Madison Commercial Properties sold a 9-unit apartment property at 500 S. Pennsylvania

Street in Denver’s West Washington Park neighborhood on August 1st. The sales price

equates to nearly $139,000 per unit, and over $205 per square foot.

Located just blocks from Washington Park, the property offers spacious one-bedroom

apartments and garage parking for every unit. The property consists of three 3-unit build-

ings situated on an oversized 17,500 square foot corner lot. Kyle and Greg were honored

to represent both the Seller and Buyer in this off-market transaction.

Kyle & Greg’s New Listings & Recent Sales

1225 Marion St.

SOLD: $513,000

1914-1916 S. Columbine St.

SOLD: $1,300,000

1141 Washington St.

SOLD: $638,000

764-794 Cherry St.

SOLD: $1,425,000

Kyle Malnati Principal

Greg Johnson Principal

(303) 771-3850

Madison Commercial Properties is a subsidiary of Madison & Co. Properties, LTD.

Off-Market Sale of

West Wash Park

Apartments

Tips for Protesting Your

Tax Assessment!

Madison & Company Properties LTD - 1221 S. Clarkson St. Ste. 300 - Denver, Colorado

80210

Kmalnati@MadisonProps.com - Gjohnson@MadisonProps.com

500 S. Pennsylvania St.

SOLD: $1,250,000

1159 Corona St.

SOLD: $701,000

1121 Ogden St.

SOLD: $1,977,425

917 E. 13th Ave.

LISTED

1125 Marion St.

LISTED

799 Cherry St.

SOLD: $605,000

1235 Clayton St.

SOLD: $1,710,000

1050 Emerson St.

SOLD: $1,056,000

23-33 Pearl St.

SOLD: $3,125,000

1400 Clermont St.

Under Contract!

101 Logan St.

SOLD: $460,000

Madison Commercial is ready to help you fight higher property tax valuations! The dead-

line to file a protest is November 30th, but we recommend contacting the County Asses-

sor this month to avoid the last minute rush. We’ve joined clients this summer for their

review meetings with the Assessor’s Office, and were given these helpful tips by the As-

sessor’s staff for successful protests:

Show a true “relationship” between your property and the sales comps you provide.

Don’t simply argue that your property value increased by too large of a percentage.

Don’t use properties from a multi-property “portfolio” sale as a sales comparable.

Use your sales comps separately - don’t average the sales prices.

We offer our assistance free of charge. Contact us for additional advice, and a list of ap-

propriate sales comps for your successful protest.

For More Information Call: (303)771-3850

4/9/2013 1901 E. 13th Ave. Price: $8,350,000 Units: 93 Price/SF: $108.24 Price/Unit: $89,785

4/26/2013 1430 Corona St. Price: $435,000 Units: 5 Price/SF: $127.23 Price/Unit: $87,000

All of our Market Reports can be downloaded at: www.DenverApartmentBuildingsForSale.com

Washington Park/ DU Sales: 9 properties sold: Averages - $152.59/SF - $101,649/unit

2/25/2013 8 S. Logan St. Price: $1,190,000 Units: 14 Price/SF: $165.35 Price/Unit: $85,000

5/28/2013 2340 S. University Price: $1,310,000 Units: 13 Price/SF: $145.56 Price/Unit: $100,769

Capitol Hill Sales: 8 properties sold: Averages - $133.17/SF - $102,519/unit

2/21/2013 1141 Washington St. Price: $638,000 Units: 8 Price/SF: $134.60 Price/Unit: $79,750

4/18/2013 1436 Williams St. Price: $1,350,000 Units: 12 Price/SF: $145.33 Price/Unit: $112,500

5/17/2013 1061 Humboldt St. Price: $1,600,000 Units: 6 Price/SF: $141.14 Price/Unit: $266,667

1/30/2013 924-30 Pennsylvania Price: $630,000 Units: 6 Price/SF: $70.00 Price/Unit: $105,000

4/9/2013 1121 Ogden St. Price: $1,977,425 Units: 17 Price/SF: $159.99 Price/Unit: $116,319

4/30/2013 1050 Emerson St. Price: $1,115,000 Units: 10 Price/SF: $178.86 Price/Unit: $111,500

6/17/2013 1235 Clayton St. Price: $1,710,000 Units: 17 Price/SF: $179.47 Price/Unit: $100,588

Congress Park Sales: 3 properties sold: Averages - $154.79/SF - $112,315/unit

4/25/2013 3005-15 E. 14th Ave. Price: $1,640,000 Units: 15 Price/SF: $180.22 Price/Unit: $109,333

3/22/2013 1485 Clayton St. Price: $1,479,550 Units: 11 Price/SF: $104.67 Price/Unit: $134,505

1/14/2013 2412 S. York St. Price: $1,180,000 Units: 11 Price/SF: $196.83 Price/Unit: $107,273

5/1/2013 299 S. Lincoln St. Price: $378,500 Units: 6 Price/SF: $83.54 Price/Unit: $63,083

1/10/2013 101 Logan St. Price: $460,000 Units: 5 Price/SF: $129.21 Price/Unit: $92,000

2/28/2013 1914-26 S.Columbine Price: $1,300,000 Units: 7 Price/SF: $256.16 Price/Unit: $185,714

5/31/2013 285 S. Lincoln St. Price: $615,000 Units: 11 Price/SF: $50.31 Price/Unit: $55,909

Announcing the Sale of 1159 Corona St.

Check out the transformation!

Madison Commercial sold 1159 Corona St. for $701,000. This 7 unit apartment building consists of 6 one bedrooms, and 1 two bedroom. The sales price equates to just over $100,000 a door and nearly $190 per square foot. Just two years ago, Kyle Malnati sold the building for $399,000 in the summer of 2011. Under a new owner the building went through a few renovations and this time around Madison Com-mercial was able to increase the sale price by around $300,000! The building is located in the heart of Capitol Hill, blocks to

Cheesman Park and the Denver Botanic Gardens. The con-

verted mansion has vintage Victorian charm, including exposed

brick and hardwood floors. There are also 3 off-street parking

spaces.

Madison is on YouTube! Have you

tuned in?

Check out our YouTube channel, MadisonDenver!

We upload lots of great videos featuring apartment

properties around Denver!

www.youtube.com/user/MadisonDenver

6/14/2013 754-794 E. 7th Ave. Price: $830,500 Units: 12 Price/SF: $33.47 Price/Unit: $69,208

Governor’s Park Sales: 3 properties sold: Averages - $139.43/SF - $127,557/unit

5/21/2013 725 Corona St. Price: $1,146,500 Units: 7 Price/SF: $191.59 Price/Unit: $163,786

3/1/2013 770 Grant St. Price: $8,100,000 Units: 60 Price/SF: $193.22 Price/Unit: $135,000

Uptown Sales: 6 properties sold: Averages - $169.01/SF - $86,406/unit

3/12/2013 1685 Colorado Blvd. Price: $2,625,000 Units: 24 Price/SF: $196.95 Price/Unit: $109,375

1/31/2013 1567 Vine St. Price: $685,000 Units: 12 Price/SF: $127.42 Price/Unit: $57,083

4/26/2013 1651 Washington St. Price: $3,125,000 Units: 36 Price/SF: $189.50 Price/Unit: $86,806

4/26/2013 1915 Sherman St. Price: $2,625,000 Units: 35 Price/SF: $240.36 Price/Unit: $75,000

5/31/2013 1626 Logan St. Price: $4,450,000 Units: 52 Price/SF: $168.13 Price/Unit: $85,577

6/7/2013 1560 Sherman St. Price: $3,080,000 Units: 33 Price/SF: $91.72 Price/Unit: $93,333

6/3/2013 2421-49 S. Gaylord Price: $1,660,000 Units: 15 Price/SF: $151.57 Price/Unit: $110,667

6/18/2013 1380 S. Sherman St. Price: $750,000 Units: 5 Price/SF: $194.81 Price/Unit: $150,000

May -11’ $399,000

Aug. -13’ $701,000