Pinnacle Announces the Sale of 15 Unit Property in Castle Rock

Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 532 Oakwood Drive Building C located in Castle Rock, CO. The 15-unit property, built in 1984, sold for a contract price of $2,400,000; $160,000 per unit and $199.73 per square foot. The property, consisting of 15 condo units in one of the complexes five buildings, featured updated one and two bedroom units with new appliances, carpet and paint. The property is located walking distance to Rock Park trailhead and just minutes from the shopping, dining and entertainment of Downtown Castle Rock. Jim Knowlton, Principal with the Knowlton│Lawson Team, represented the buyer in the transaction.

“The buyer sold 12 units in Arvada and traded up into this 15 unit condo deal and was able to increase his cash flow by 60%,” said Knowlton.