Pinnacle Announces the Sale of a 4 Unit Apartment Building in Denver
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 1490 South Ash Street, Denver, CO 80222. This 4-unit multifamily property was built in 1963 and is located near the intersection of Colorado Boulevard and I-25, in the Virginia Village Neighborhood. Each unit has two bedrooms and the building has a large, private fenced-in backyard. The property sold on April 14, 2017 for $650,000, or $162,500 per unit. Eric Veith from the Hornstein│Fetter Apartment Group, represented both sides in this transaction.
“The seller had built a considerable amount of equity in the property, and was looking to leverage that into something larger,” according to Veith. “The buyers own a few similar properties in the immediate area, and they were looking to add a well-maintained asset in a familiar location to their portfolio. The deal worked out really well for both sides.”