Pinnacle Announces Sale of 38 Units in Glendale

Quentin Shore, Associate Advisor, Jim Knowlton, Owner/Principal, and Chris Knowlton Vice President, at Pinnacle Real Estate Advisors, LLC, are pleased to announce the sale of 1100 S. Bellaire Street in Glendale, CO. The 38-unit property sold on May 31st for a Contract Price of $6,600,000 ($173,684/Unit). The property, built in 1963, consisted of (8) studios, (24) 1bedroom/1bathroom units, and (6) 2bedroom/1bath units.

Quentin Shore, Jim Knowlton, and Chris Knowlton represented the Seller in the transaction.

“We are pleased to have successfully closed this transaction, particularly in this challenging market where lending conditions and insurance restrictions are becoming increasingly difficult. This closing represents the final sale of the Seller’s six-property multi-family portfolio. The owners have been proud providers of quality rental units at affordable rates for the past 30 years,” said Quentin.