Pinnacle Announces Sale of 18-Unit Apartment Building in Denver

Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 2930 West Cornell Avenue located in Denver, Colorado. This multifamily property has 18-units and was built in 1971. The building is located just across Federal Boulevard from upcoming redevelopment of Loretto Heights Campus and sold for $2,300,000 ($127,778/unit; $149/square foot). Eric Veith represented the seller in the transaction and Joe Hornstein represented the buyer.

“The seller identified an opportunity to exit the property at a profit and leave the heavy lifting of improving the property to the next owner,” according to Veith. “The buyer is well experienced adding value to assets of this type and is entering his ownership with a solid plan for how to update the property and begin to push rents.”