Saturday, January 07, 2017

The TOP Boulder Real Estate Sales of 2016 (Deal #9)

by Osman Parvez
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Originally a 1920's historic Boulder home, the property exchanged hands several times during the past few years before a developer acquired it in 2014. Despite the pre-war historic status, it was completely scraped and rebuilt as a modern house with 2.5x the original square footage.  

441 Arapahoe is the #9 top real estate deal of 2016. 

441 Arapahoe Ave



6 bedrooms, 6 bathrooms on two levels on about 5,000 beautifully finished square feet.  The value comes the contemporary turn-key design, large south facing lot, proximity to downtown, backing to Boulder Creek, and likely protected views of the Foothills. 

Click HERE for the eye candy and details.

Deal notes:  Boulder designer Lovedy Barbatelli sold the house in May 2011 for $920K. That owner later sold it to a developer in June 2014 for $1.12MM. The build-out cost easily exceeded the $1MM threshold, but the developer's vision (and later, profit) were certainly there.  It listed in April for $3.25MM, went under contract twice but the deals fell apart. The third time was the charm, it closed at the asking price in June.  

How they got the project past historic review remains a mystery.  Insider comments welcome. 
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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties.   We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate. 

1 comment:

  1. You should also know that they got 3 offers (2 cash) when they went under contract the last time. That end of Arapahoe is blowing up.

    ReplyDelete