Pinnacle Announces Sale of 12-Unit Multifamily Complex in Aurora
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of a 6,777 square foot, 12 unit multifamily complex for $1,662,000; $138,500/Unit, $245.21/SF, current Cap Rate of 4.88% and proforma Cap Rate of 6.61%, located at 1393 Jamaica Street in Aurora, Colorado. This property was built in 1962 and is located in an opportunity zone less than 2 miles from Stanley Marketplace and Stapleton and 1 mile from Fitzsimmons Medical District and the Lowry Neighborhood. The property features 3/12 updated units, updated interior and hallways, and seller owned washer/dryer. Barton Thompson, Vice President, represented the seller, 1393 Jamaica, LLC, and the buyer, Lanwin Development Corp in the transaction.