Jim Knowlton, Owner/Principal at Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of Eliot Flats located at 3233 Eliot Street, Denver, CO. The 40-unit building sold on August 28^th for a Contract Price of $8,800,000 ($220,000/Unit). The Smart Unit, 100% Electric Apartment Community, built in 2015, consisted of (30) studio units and (10) 1-bedroom/1-bathroom units.  Eliot Flats is centrally located in the Highlands neighborhood and walking distance to all of the coffee shops, restaurants, breweries and parks that the neighborhood has to offer.  The property is equipped with a solar power system, Smart Water metering, energy efficient windows and finishes, and built from sustainable products and materials. Jim Knowlton represented the Buyer in the transaction.

“The Buyers own similar properties in the area, making this an appealing addition to their portfolio. Additionally, they were able to assume the Seller’s existing loan, securing a rate that is more than 125 basis points lower than current market rates, ” said Knowlton.