Pinnacle Announces Sale of 32-Unit Apartment Building in Lakewood
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of the Fleur De Lis Apartments located at 5275 West 1st Avenue in Lakewood, Colorado. This multifamily property has 32 units and was built in 1961. The building is located just off Sheridan Boulevard and West 1st Avenue. The property sold on August 12, 2016 for $3,625,000, or $113,281 per unit. Jeff Johnson and Matt Ritter, with the Johnson | Ritter Team, represented the Buyer and Joe Hornstein and Scott Fetter, with the Hornstein | Fetter Team, represented the Seller in the transaction.
“The Buyer recently sold a central Denver apartment building and traded into the Fleur De Lis Apartments. With the acquisition of the property, the Buyer was able to dramatically increase his return on equity and cash flow,” stated Jeff Johnson, Principal at Pinnacle Real Estate Advisors.