Pinnacle Announces the Sale of 11 Unit Apartment Building in Capitol Hill
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 1075-1085 Clarkson Street. This 11-unit multifamily property was built in 1905 and is located in the highly desired Capitol Hill Neighborhood. The property sold on September 8, 2017 for $1,385,000 or $125,909 per unit and $214 per square foot. Joe Hornstein and Scott Fetter, with the Hornstein│Fetter Apartment Group, represented the seller and Connor Knutson and Josh Newell, with the Newell Team, represented the buyer.
“The property was sold on behalf of an investor’s estate that had owned the property over 25 years,” Hornstein said. “The property will require significant updates to achieve market rental rates but it is a very unique, turn of the century vintage building with a lot of potential. At the sales price, the buyer should do well once the property is updated and stabilized.”