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March 28, 2024
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TEXAS/SOUTHWEST NEWS
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AIMCO Pays $18 Mil for 140-Unit CO Multifamily Asset

1/16/15

Eastpointe Apartments, a 140-unit multifamily community in Boulder, CO, sold for $18 mil, or about $128.6k/unit. It was acquired by Apartment Investment and Management Company (AIMCO).

Built in 1974, the property is situated on seven acres at 1500-1590 Eisenhower Dr, across the street from the newly developed Foothills Community Hospital and within proximity of other major area employers such as the University of Colorado Research Park. It is well-situated asset in central Boulder within walking distance of major Boulder employment centers.

Eastpointe Apartments is a garden-style community with quiet, well-groomed grounds, a pool, volleyball and tennis courts, a playground and laundry facilities. The unit mix features one-, two- and three-bedroom apartments with balconies and patios

Jacob Steele, associate vice president investments, and Nick Steele, associate, both in Marcus & Millichap’s Denver office, represented the buyer in the deal. According to Jacob Steele, the property represents a rare value-add opportunity in Boulder, one of Colorado’s strongest rental markets.





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