1580 Lansing Street Sold for $680,000

Josh Newell, Principal and Barton Thompson, Advisor with the Newell Team at Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 1580 Lansing Street, Aurora, Colorado. The 6-unit apartment building was built in 1959 and sold on June 10th with a contract price of $680,000; $113,333 per unit and $186.81 per square foot.

The sellers of Lansing were a couple who were looking to consolidate their portfolio of smaller multifamily properties and trade into one larger building. They were also looking to improve their annual cash flow. The 1580 Lansing sale was one of three properties in their portfolio that sold on June 10th for their 1031 exchange. The up-leg of their exchange is already under contract and meets all of the investor’s real estate investment goals.