Pinnacle Announces Sale of 72-Unit Apartment Building in Pueblo
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 2001 Jerry Murphy Road located in Pueblo, Colorado. This multifamily property has 72 units and was built in 1972. The building is located near Colorado State University of Pueblo. The property sold on August 15, 2016 for $2,475,000 or $34,375 per unit. Brent Hubbell and Jeff Johnson, with the Johnson Ritter Team, represented the seller and buyer in the transaction.
“The property was very attractive to the buyer due to its location and unit mix. There should be strong upside for the buyer. The seller had owned the building for 20 years and decided to retire and capitalize on current market conditions.,” stated Brent Hubbell, advisor at Pinnacle Real Estate Advisors.