Would this appraise for $1.4 million?

[Grayson Hussey]

I'm looking to get into a multiplex property in Denver and came across this property. The one side is listed for sale individually for $660k, and I found this posting on Loopnet: http://www.loopnet.com/Listing/1550-1552-Perry-St-...

I'm not really considering attempting to purchase it, but from an academic and market understanding viewpoint, I have to ask: Even with the crazy valuations and sales prices, is it worth this much? I'm having a hard time believing that this triplex/portfolio (does it make a difference with separate deeds?) would appraise for $1.4 million, or even much above $1m. Even the single side at $660k seems a little high.

What do you think?