Pinnacle Announces the Sale of 10-Unit Apartment Building in Aurora
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of the 1457 Kenton Street. This 10-unit multifamily property was built in 1951. The property is located off Colfax Avenue and Havana Street in Aurora and includes two studios and eight 1Br/1Ba units. The transaction closed on October 12, 2017 for $865,000 or $86,500 per unit and $160/SF.
Joe Hornstein and Eric Veith with the Hornstein│Fetter Apartment Group represented both the buyer and seller in this transaction.
“The buyer’s interest in the property was triggered by the sale of two smaller single-family assets,” according to Veith. “It was a good opportunity for the buyer to trade up and maximize their cash flow potential. The seller purchased the property at the bottom of the market and was able to capitalize on good market appreciation.”