Pinnacle Announces Sale of a 17 Unit Multifamily Property in Aurora
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of the Le Baron Apartments. This 17-unit multifamily property is located at 11948 East 17th Avenue in Aurora. The building was built in 1971. Le Baron sold on February 23, 2017 for $1,750,000 or $102,941 per unit. Scott Fetter, along with the Hornstein│Fetter Apartment Group, represented both sides in this transaction.
“Selling Class C apartments in Aurora above $100,000 per unit is a big deal. It shows how far the market there has come and how strong the multifamily market in Denver’s submarkets is,” says Fetter. “Of course, this property has a stellar location and the unit mix is unique for the area. I expect a number of sales in that submarket above $100 per door this year and the size and presence of the Fitzsimons campus certainly seems capable of helping buoy values moving forward.”