Josh Newell, Owner/Principal at Pinnacle Real Estate Advisors, LLC, is pleased to announce the sale of 1401 Detroit Street in Denver, CO. The 6-unit apartment building, a turn-of-the-century conversion built in 1908, closed on August 7th at a contract price of $1,100,000, or $183,333 per unit and $246 per square foot. Josh Newell represented the Seller.

“Given that these are primarily small one-bedroom units, this price point was an outstanding outcome for our Seller,” said Newell. “There were some lending challenges along the way tied to rents softening over the past year, but we were able to work through those and still get her 96% of our initial List Price. She was extremely pleased with how our team handled the process and the price we were able to deliver for her and the limited partners. It’s a testament to our pledge of both internal and external cooperation, always with our client’s best interests in mind.”

For more information on this sale please contact Josh Newell at 303-962-9559/JNewell@Pinnaclerea.com.