Pathfinder Partners, based in San Diego, recently purchased The Station, a 97-unit apartment community in Littleton, Colo., from an undisclosed seller for $20,725,000. The plans for the 1983-vintage property includes some value-add renovation. “Pathfinder plans on updating all units with washers/dryers, new cabinetry, quartz kitchen countertops, modern light fixtures, and vinyl-plank flooring,” said Lorne Polger, senior managing director at Pathfinder Partners.
The community is a mix of 17 studio, 44 one-bedroom, and 36 two-bedroom apartment homes equipped with walk-in closets, private balconies or patios, washer/dryer hookups in 80 units, and fireplaces in nine units.
Littleton is about 10 miles south of downtown Denver, offering the advantages of a major metro combined with the charm of a small town. “The Station is within close proximity to historic downtown Littleton, with its trendy coffee shops, wine bars, microbreweries, restaurants, retail shops, and walking/biking trails,” says Polger. “It’s also just three blocks from the Littleton Downtown light-rail station, which provides easy travel to and from the Broncos Stadium and downtown Denver.”
In addition to the town’s well-connected access, the economy is also robust. Polger notes, “Littleton’s median household income of $71,315 is 20% higher than the national average and 9% higher than Denver. The unemployment rate is only 2.4%, 35% lower than the national average. The area’s strong job market is led by several large companies including Johns Manville Corp., Lockheed Martin, and Comcast.”