Pinnacle Announces Sale of an 8 Unit Apartment Building in Colorado Springs

Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 127 and 135 University Drive located in Colorado Springs, Colorado. This multifamily property has 8 units and was built in 1969. The buildings are located east of Downtown Colorado Springs, and sold for $530,000 ($66,250/unit; $78.38/square foot). Eric Veith represented the buyer and seller in the transaction.

“The sellers were looking for an opportunity to move out of this asset off-market and the buyer already owned other properties in the vicinity,” according to Veith. “It ended up being a win-win for everyone. The sellers were able to exit smoothly and the buyer is left with a solid opportunity to add value in the future.”