Pinnacle Announces Sale of 12 Unit Light Value-Add Property in Aurora
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 1677 Geneva Street in Aurora, CO. The 12-unit property, built in 1964, sold on July 26th for a Contract Price of $1,985,000; $165,417 per unit and $212.07 per square foot. The property consists of (6) 2Br/1Ba units and (6) 1Br/1Ba units.
Located in the North West pocket of Aurora, the light value-add property is just minutes away from the Children’s Hospital/Medical Campus, Spencer Garrett Park, and Stanley Marketplace. The property sold to a first-time multi-family investor who was excited about the opportunity to pick up 12-units with significant rental upside. “In a challenging market, we were able to lean on our network of established relationships and get this deal to the closing table,” said Quentin.
Quentin Shore, Associate Advisor, Chris Knowlton, Vice President, and Jim Knowlton, Owner/Principal, represented the Buyer in the transaction.