Pinnacle Announces Sale of 18 Unit Property in Denver

Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 1351 Xenia Street in Denver, CO. The 18-unit, value-add property, built in 1961, sold on December 7th for a Contract Price of $2,375,000; $131,944 per unit and $187 per square foot. The three-story exterior walk-up property featured a newer roof, and (3) studio units and (15) large one-bedroom units with immediate upside in rents. Chris Knowlton, Vice President, represented the Buyer in the transaction.

“The Buyer was able to successfully complete his 1031 exchange with this purchase.  The Buyer plans to update the remaining units and push rents to market,” said Chris Knowlton.