The TOP Boulder Real Estate Sales of 2016 (Deal #1)
by Osman Parvez
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Here we go. The highly anticipated top sale of the year.
Nearly 5,000 homes traded hands in Boulder County during 2016. Over 400 exceeded prices of $1MM. Almost 100 exceeded $2MM. But only 19 sales were in the lofty $3MM+ category.
In this series, we’ve focused on the most luxurious, over the top real estate that traded hands in Boulder last year, and this one tops them all. It’s an estate worthy of magnates, an heirloom for future generations, a setting for a Gatsby party. Welcome to 1002 Mapleton Avenue. Sale price: $7.8MM.
Looking for the rest of the series? #2 is HERE.
1002 Mapleton Ave
Behind unassuming wrought iron gates, in the heart of Boulder’s historic district, lies an “iconic estate on a beautiful half acre lot perched atop Mapleton Hill.”
The historic home was originally constructed in 1908 and retains the beautiful period architecture. The interior has been completely updated and now features nearly 6,000 SQFT of high-end features and finishes. A pool and separate guest cottage overlook the Flatirons & downtown Boulder.
Click HERE for the eye candy.
Deal notes: Typically, estates of this caliber are rarely available. This particular home sold at a 7.4% discount from asking. The property also previously transferred ownership in November 2013 for $6.4MM after about 2 months on market. It’s unclear if the previous owner made any improvements during their tenure, but it appears to have been a wise investment. Mr. Market rewarded them with a ~6.5% unlevered IRR. The lucky new owner is serial entrepreneur Godard Abel.
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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.
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More about the author
Osman Parvez
Owner & Broker at House Einstein as well as primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has appeared in the Wall Street Journal and Daily Camera.
Osman is the primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. Learn more about Osman.
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