100-Unit Longmont Apartment Complex Sells For $15M
A group of local investors led by Cedarbridge Longmont LLC has acquired the Le Deauville apartments for $15M.
The new owners plan to renovate the property, which they acquired from neighboring Longmont United Health.
Built in 1972, the 100-unit apartment complex is on 5.8 acres at 2201 14th Ave. fronting Hover Street in Longmont. Amenities at the property include a pool, a clubhouse, a playground and grass courtyards that separate the community’s buildings.
“Le Deauville is a great property,” said Marcus & Millichap Senior Associate Nick Steele, who, with First Vice President Investments Jacob Steele, represented the buyers. "Northern Colorado is one of the fastest-growing areas of the country. Longmont’s multifamily market has been solid with rental rates comparable to most Denver metro markets.”
