Boulder’s Boom: Multi-Family Listings Surge with Strong Sales
Boulder’s Boom: Multi-Family Listings Surge with Strong Sales
Sales of multi-unit residential properties in Boulder County mirror strong economy
FOR IMMEDIATE RELEASE
BOULDER, COLORADO – November 12, 2014 – A four-unit residential building recently sold at 985 30th Street for $14,320 over asking price. In the Aurora Terrace subdivision, the four-unit rental property with a total of 2,503 square feet, listed for $850,000, and sold for $864,320.
Built in 1960, this property was only on the market for 35 days and went under contract in seven days. Logan Altman sold the property to James Tyrell. The listing agent was Todd Walsh and Scott Crabtree, who represented the property. Amy LaBorde was the buyer’s agent in the transaction.
Residential sales have been up in Boulder since 2013. Evidence of this as a trend with staying potential are two other recent transactions by Todd Walsh as a listing agent. First, a property at 645 Pearl Street with six units at 2,048 square feet recently went under contract after only 11 days on the market with a sales price of $1,350,00. And second a multi-residential property at 298 Arapahoe sold for $1,850,000.00 and after only 52 days on the market. The property has 12 units and is 4,193 square feet.
Since late 2013, residential multi-unit properties have been one of the fastest selling types of real estate in the Boulder area. “I believe we’re seeing a resurgence in these types of properties because one, the multi-residential rental properties have been undervalued in this market for a long time, and two, the strong economy is allowing buyers to invest greater sums than we have seen since 2008,” said Walsh.
For more information contact Todd Walsh at (303) 444.4888
