Pinnacle Announces Sale of 22-Unit Apartment Building in Wheat Ridge

Chris Knowlton, Vice President and Mark Knowlton, Associate Advisor with the Knowlton Lawson Team and Josh Newell, Owner/Principal with the Newell Team at Pinnacle Real Estate Advisors, LLC are pleased to announce the sale of 3330 Ames Street in Wheat Ridge, Colorado. The 22-unit apartment building, built in 1958, sold on November 18th for a contract price of $4,470,000; $203,182 per unit and $327.47 per square foot. Josh Newell, who represented the Buyer, commented that “this was a scenario where, in a competitive bidding environment, we were able to procure the best Buyer willing to pay a very healthy price for a property that had rents significantly below market levels.” Chris Knowlton and Mark Knowlton represented the Seller.