A New York City real estate firm, Stratford Plaza South LLC, spent $4.6 million to buy two apartment buildings in Southwest Denver from Mozart Properties.

Built in 1961 and 1962, the two three-story buildings at 2101 S. Depew St., and 5601 W. Green Meadows Pl. total 46 apartments, which now rent for an average of $650 a month. Renovated one-bedroom units in the neighborhood now rent for $975 to $1,015 per unit.

The buyer plans to spend $35,000 to $54,000 per unit to renovate the property, according to the Colorado Real Estate Journal.