Deals & Dealmakers: Townhouse Project Snags $150K Above Asking

Featured on Denver Business Journal

By Andrew Dodson, Reporter

April 18, 2019

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DEALMAKERS:

How’s this for a broker’s name: Boomer Beatty, along with Peter Standley, of Marcus & Milichap, sold a five-unit townhouse development at 4401 E. Jewell Ave. for $2.25 million. While the sale, which closed earlier this month, amount may not blow you away like other hot real estate deals across Denver, the duo priced and marketed the property in a way that drove multiple offers and resulted in a sale that was $151,000 over the asking price. For those efforts, they are this week’s dealmakers.

The townhomes, located in Denver’s Virginia Village neighborhood, are brand new. Built in 2018, each offers a three-bedroom, two-and-a-half-bathroom layout across an open floor plan with kitchen islands, hardwood floors, quartz countertops and custom iron railings. Even better, each unit includes a rooftop patio, backyard, basement and a two-car garage.

The buyer is from Boulder and plans to have his children take two of the units and rent the remaining three out for about $3,000 per month, Beatty told Denver Business Journal.

Beatty added that Virginia Village — a neighborhood that he says developers have neglected as of recently — has a lot of potential, especially for townhouse-type developments.

"There are a lot of smaller houses on bigger lots there, so it's something to keep an eye out for," he said.