Heritage House Apartments Sold for $3,500,000

Josh Newell, Principal, and Barton Thompson, Associate Advisor, at Pinnacle Real Estate Advisors, LLC announce the sale of Heritage House Apartments located at 15500 E 13th Avenue in Aurora, Colorado. The 28-unit building sold on November 15th with a contract price of $3,500,000; $125,000 per unit and $116.16 per square foot.  The building was purchased by an investor in a 1031 exchange.  This investor was able to increase both their unit count and cash flow by moving their equity from Denver to Aurora.

The property was constructed in 1972.  Newell and Thompson represented the local buyer in the transaction.