Pinnacle Announces Sale of 5-Unit Apartment Building in Central Denver

Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 357 N Grant St located in Denver, Colorado. This multifamily property has 5 units and was built in 1888. The building is located just off Speer Boulevard near the 9 News building. The property sold on April 1, 2016 for $600,000 or $120,000 per unit.  Jeff Johnson and Matt Ritter, with the Johnson Ritter Team, represented the buyer and Josh Newell represented the seller in the transaction.

“The excellent Central Denver location of the property made it very desirable among investors.  We saw great value in the deal and in the end we were able to help our client satisfy the down-leg portion of his 1031 exchange by acquiring the asset,” stated Jeff Johnson, principal at Pinnacle Real Estate Advisors.