That gave Nguyen a 33% profit.
''This price reflects one of the highest prices per unit for the Glendale area,'' Scott L. Shwayder, who sold the project with fellow broker Marc S. Lippitt, tells GlobeSt.com. Shwayder and Lippitt own Denver-based Unique Properties, which specializes in selling small apartment properties.
The sale price pencils out to $59,166 per unit, far greater than most small, 40-year-old properties command, Shwayder says.
''I think it is symptomatic of the supply and demand situation,'' Shwayder tells GlobeSt.com. ''There's a lot of demand and rents are going up. This building gets about $1 per sf.''
The property consists of eight two-bedroom units, 13 one-bedroom units and three studio apartments.
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