Pinnacle Announces the Sale of 6203 & 6215 Dover Street in Arvada
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 6203 and 6215 Dover Street located in Arvada, CO. The 12-unit property, built in 1971, sold for a contract price of $1,615,000; $134,583 per unit and $162.54 per square foot. The property, consisting of two adjacent 6-unit buildings, is located less than a mile from Olde Town Arvada, and features updated one and two bedroom units, brand new windows and brand new roofs. Jim Knowlton, Principal with the Knowlton│Lawson Team, represented the seller and Jeff Johnson, Co-Founder and Principal with the Johnson│Ritter Team, represented the buyer in the transaction.
“The seller was able to do a 1031 exchange into 15 condo units in Castle Rock and increase his cash flow by 60%,” said Knowlton.