Pinnacle Announces Sale of 8-Unit Apartment Building in Lakewood

Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 1475 South Pierce Street located in Lakewood, Colorado. This recently renovated multifamily property was built in 1951, has 8 units and 8 detached garages. The building is located just east of South Wadsworth Boulevard in the middle of Lakewood. The property sold on January 6, 2017 for $1,350,000 or $168,750 per unit. Jeff Johnson, with the Johnson Ritter Team, assisted both the seller and the buyer in this 1031 transaction.

“The property had been completely renovated by the seller providing the buyer with a truly turn-key asset.  Additionally, the huge unused portion of the lot has potential for future development,” stated Jeff Johnson, Principal at Pinnacle Real Estate Advisors.