Pinnacle Announces Sale of 8-Unit Apartment Building in Arvada
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 5562 Newland Way located in Arvada, Colorado. This multifamily property has 8 units and was built in 1971. The building is located just one mile from a future Light Rail/FasTracks station. The property sold on March 21, 2016 for $865,000 or $108,125 per unit. Matt Ritter and Jeff Johnson, with the Johnson Ritter Team, represented the seller and Josh Newell and Connor Knutson, with the Newell Team, represented the buyer in the transaction.
“We have a long-standing relationship with the seller and were happy to assist them with the sale. The market has improved dramatically since the seller purchased the asset, making their timing perfect,” stated Matt Ritter, principal at Pinnacle Real Estate Advisors.