Marcus & Millichap Arranges the Sale of a 14-Unit Colorado Apartment Building

LYONS, CO ,  January 22, 2025 – Marcus & Millichap (NYSE: MMI) , a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of 224 Seward Street, a 14-unit apartment property located in Lyons, CO, according to Adam A. Lewis, regional manager of the firm’s Denver office. The asset sold for $1,700,000.

Matthew T. Berk and Clayton Primm, investment specialists in Marcus & Millichap’s Denver office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The listing agents achieved outstanding results for the seller by generating nine written offers from a diverse range of investors, including out-of-state mobile home park investors, regional multifamily investors, local private clients, and developers.

The property was ultimately awarded to a local group, which presented an all-cash offer to preserve affordable housing in Lyons, an area that has seen significant rental rate increases over the last five years. “This outcome highlights the strength of our marketing strategy and the broad appeal of this opportunity to various investor groups,” said Matt Berk “We’re especially proud to have facilitated a transaction that supports the community’s affordable housing needs.”

The sale includes six apartments and eight mobile homes that sit on 0.75 acres and are conveniently located in Lyons, CO a small town in Boulder County, approximately 15 minutes west of Longmont, 25 minutes southeast of Estes Park, and 20 minutes north of Boulder. Lyons, Colorado has historically been a low-vacancy rental market.

Marcus & Millichap’s ability to connect with a wide range of buyers reflects the firm’s comprehensive reach and expertise in the multifamily and mobile home park sectors.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.