Pinnacle Announces Sale of a 42-Unit Apartment Building in Lakewood

Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 1975 Oak Street, located in Lakewood, Colorado. This multifamily property has 42-units and was built in 1971. The building is located in the Applewood neighborhood, just around the corner from Crown Hill Park, and sold for $7,005,000 ($166,785/unit; $205/square foot).  Joe Hornstein and Scott Fetter represented the buyer in the transaction.

“This is a 42-unit apartment complex, but the asset feels much larger then that,” Hornstein said.  “The property includes a swimming pool and roughly one covered car port for each unit, which is unique for a property of this size.  It is pretty rare for any multifamily properties to become available in the Applewood neighborhood, so the buyers aggressively pursued it.”