Leadville, CO – [January 20, 2022] – Blue West Capital has completed the sale of a four building, 28 unit, individually deeded, multifamily property located at 921 Mount Massive Drive in Leadville, CO. Tom Ethington, of Blue West Capital, represented the seller in the transaction, a high net-worth real estate investor based in Colorado. The buyer was a local private real estate company represented by Scott Fetter with Northpeak Commercial Advisors.
921 Mt. Massive Drive is conveniently located south of Mount Princeton Drive on Mount Massive Drive on the northwestern edge of the city. The city has made major efforts to improve its economy by encouraging tourism and emphasizing its history and opportunities for outdoor recreation. The seller was a long-term owner and had repositioned the property within the Leadville multifamily market. Blue West Capital’s marketing strategy helped find an off-market buyer that was looking to add workforce housing to their portfolio.
“Leadville is a great mountain and mining town with breathtaking views and a quiet way of life. The seller was ready to realize the value of his property and 1031 exchange into a more passive commercial real estate asset. The buyer saw long term upside in the limited housing supply in Summit and Lake County Colorado,” said Tom Ethington.