Pinnacle Announces Sale of 4-Unit Apartment in Denver
Charlie Mitelhaus, Associate Advisor, and Andrew Monette, Vice President, with the Sandberg|Monette Team at Pinnacle Real Estate Advisors, LLC are pleased to announce the sale of 278 S Lincoln St in Denver, Colorado. The 4-unit apartment building, built in 1891, sold on October 20th for a contract price of $875,000; $218,750 per unit and $501.72 per square foot. The newly renovated Victorian features (3) studio units and (1) one-bedroom/one-bathroom unit. The property also includes a detached one-car garage and off-street parking. Charlie Mitelhaus and Andrew Monette represented the Seller.
“Through seller-financing, our client was able to significantly improve his monthly cashflow while relinquishing his management and ownership responsibilities,” said Mitelhaus.