Josh Newell, Owner/Principal at Pinnacle Real Estate Advisors, LLC, is pleased to announce the successful sale of Wadsworth Station West in Lakewood, Colorado. The 24‐unit apartment community, originally constructed in 1962, was approximately 40% vacant during the marketing process and sold on November 7th for $3,165,000. The sale equates to $131,875 per unit and $181.11 per square foot.

“This was a challenging asset to get Closed given the declining rents, increasing concessions, and much higher-than-average vacancy,” said Newell. “However, we were able to identify a Buyer who was willing to roll up his sleeves, stabilize the property, and who had strong enough lending relationships to successfully execute the transaction.”

Newell represented both the Seller and the Buyer in this transaction.

For additional information, please contact Josh Newell at 303-962-9559 or JNewell@PinnacleREA.com.