Pinnacle Announces Sale of 20-Unit Apartment Building in Arvada
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 5351-5361 Everett Street located in Arvada, Colorado. This multifamily property has 20 units and was built in 1961, with renovations taking place in 2014. The building is located just off West 52nd Avenue near Olde Town Arvada. The property sold on May 31, 2016 for $2,400,000 or $120,000 per unit. Jeff Johnson and Matt Ritter, with the Johnson Ritter Team, represented the Seller in the transaction and Josh Newell, of the Newell Team, represented the Buyer.
“With the sale of 5351-5361 Everett Street, our clients were able to finish the down-leg of their multi-property 1031 exchange, positioning them for a significant expansion of their portfolio,” stated Matt Ritter, principal at Pinnacle Real Estate Advisors.