Pinnacle Announces Sale of a 16 Unit Multifamily Property in Lakewood
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 1690 Eaton Street. This 16-unit multifamily property was built in 1961. The property is located off Sheridan Boulevard and West Colfax Avenue in Sloans Lake, one of Denver Metro’s hottest new neighborhoods. The property sold on February 17, 2017 for $2,725,000 or $170,313 per unit. Scott Fetter, along with the Hornstein│Fetter Apartment Group, represented the buyer in this transaction.
“As renters struggle to keep up with prices in Denver, we’re seeing two things,” says Fetter. “First is more demand for two bed units and second is a shift out of central Denver. This property capitalizes on both of those trends. The units are large and the area is quickly transitioning with the rest of Sloans Lake. The Buyer got a great loan and a new roof from the Seller, so he is well positioned on this purchase.”