Oneida Tower
2121 S Oneida St, Denver, CO 80224
Description
Value enhanced by immediate renovations of building and leasing vacant space. Increased occupancy from 63% to 90% with 12 months after acquisition. Maintained 90%+ occupancy during ownership. Increased NOI over $125,000 within same time period. Refinanced property with a $4,000,000 non-recourse loan at 5,96% interest rate, 30-year amortization.
Details
| Cost PSF $26.87 | Sale Price $5,350,000 | Total Cost $1,800,000 |
| Acquisition Date Dec, 1994 | Add. Capital Costs $225,000 | Sale Date Dec, 2006 |
| Total Project Size 67,000 SF | Sale Price / SF $79.85 | Avg Annual Return 65% |
| Acquisition Price $1,575,000 |