Apartment building sells for $4 million

BOULDER – A 26-unit apartment building in central Boulder has sold for $4 million.

A group of investors led by Scott Holton and Chris Jacobs of Element Properties purchased 2037 Walnut St. in a deal that closed Nov. 30.

The new owners intend to remodel the 31-year-old building next year to update its exterior appearance and make it more energy efficient, Holton said.

The building is a short walk from the Pearl Street Mall and the rest of downtown Boulder, but rents are more affordable than other apartments in the area, Holton said.  The owners think they’ve found a property that “with just…