Pinnacle Announces Sale of Historic Capitol Hill Apartments in Denver
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 1434 Corona Street located in Denver, Colorado. This multifamily property has 5 units and was built in 1894. The building is located on Corona Street, just south of Colfax Avenue. The property sold on August 29, 2016 for $829,000 ($165,800/unit; $215/square foot). Joe Hornstein and Scott Fetter represented the seller in the transaction.
“The Seller made some good improvements to the property and increased rental rates during their one year hold timeframe,” Hornstein said. “The Buyer was able to purchase a turn-key property in Capitol Hill with some upside left to raise rents further.”