Pinnacle Announces the Sale of a 16-Unit Apartment Building in Aurora
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of the 9191 E 14th Avenue. The property consists of 16 units, including 1 1BD/1BA and 15 Studio apartments and is located just off the Colfax corridor in Aurora. The transaction closed on May 31, 2017 for $1,285,000 or $80,313 per unit.
Scott Fetter and Joe Hornstein with the Hornstein│Fetter Apartment Group represented both the buyer and seller in this transaction.
“The Seller identified a property he wanted to pursue as a 1031 Exchange deal but he needed to sell this asset in a very short time to avoid doing the more complicated, and more expensive, reverse 1031 Exchange,” said Fetter. “The Buyer is an experienced Aurora investor and actually happened to be in an exchange as well, so the stars aligned on this one. The day after we closed this transaction, the Seller closed his 1031 upleg.”