Pinnacle Announces Sale of 19 Apartment Units in Wheat Ridge

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. “Brookhill 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,” 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.  Josh Newell represented the Seller & Buyer.