Marcus & Millichap Arranges Sale Of Six Unit Multifamily Asset In Prime Arvada Location
ARVADA, Colo., September 8, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announces the sale of 8867 W 54th Pl., a six-unit multifamily asset in Arvada for $1,000,000.
Boomer Beatty and Peter Standley, both first vice president investment at Marcus & Millichap’s Denver office, represented the seller in this deal. Beatty and Standley also procured and represented the buyer.
8867 W 54th Pl. is a stable asset with room for upside in rents through light renovations. The property offered a healthy unit mix of one- and two-bedroom floorplans along with in-unit washer and dryer hookups and a large communal backyard.
The asset’s proximity to Olde Town Arvada, the master planned Arvada Plaza Area, and convenient light rail service to Downtown Denver supports are all factors that support the property’s growing renter pool. “As renters look for heightened livability without wanting to sacrifice convenience, communities like Arvada are seeing significant growth,” said Standley, adding that, “Denver’s western submarkets will continue to be hotbeds of multifamily investment.”
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About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.