Pinnacle Announces Sale of 19 Apartment Units in Wheat Ridge
Posted on March 23, 2021
Josh Newell, Principal at Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of Brookhill, a 19-unit apartment community located at 6050-6054 W 38th Avenue in Wheat Ridge, Colorado. â€śBrookhill has many old & dated structures on 1.3 acres of land on 38th Avenue, so it doubles as a cash flow play while also giving the new owner the opportunity to develop at some point. The Seller worked with the Buyer to help him complete his difficult out-of-state 1031 exchange in order to purchase this asset,â€ť added Newell. The asset was built between 1925-1946 and sold on March 22nd with a contract price of $3,563,000; $187,526per unit and $190.64 per square foot.Â Josh Newell represented the Seller & Buyer.