Pinnacle Announces the Sale of 7 Unit Apartment Building in Denver
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 1852 West Mississippi Avenue located in Denver, CO. This 7 unit, 5,688 square foot multifamily building sold for $799,000 ($114,143/unit or $140/SF). Thomas Graeve of the Calame Lewallen team, represented the seller in the transaction. Eric Veith of the Hornstein Fetter Apartment Group, represented the buyer.
“This is a great example of those c-class properties still being great cashflow plays,” said Graeve. “Even though my client saw a 30% lift in value over the past 18 months, there is still a lot of room to run for the new owners.”