Pinnacle Announces Sale of 16 Unit Apartment Building in Lakewood

Josh Newell, Principal with the Newell Team at Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of Andi Lynn Flats located at 213-233 South Ingalls Street in Lakewood, CO. The 16-unit apartment building was built in 1960 and sits on .75 acres. “Andi Lynn Flats had a 60% LTV loan assumption requirement, which definitely shrank the Buyer pool, however we also knew that there was enough capital chasing quality suburban assets that we’d be able to execute this disposition,” commented Newell. Andi Lynn Flats sold on March 25th for $3,425,000, which represents over 97% of the listed price. Josh Newell represented the Seller in the transaction.