Pinnacle Announces Sale of 4-Unit Townhome Property in Denver
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 2405-2411 Tremont Place located in Denver, Colorado. This townhome property has 4 units and was built in 1909. The building is located on Tremont Place, north of Park Avenue West. The property sold on May 10, 2018 for $1,241,250; $310,312.50/unit and $365.07/square foot. Scott Fetter represented the seller in the transaction.
“The highest value of this property is selling each unit as individual townhomes. But that move really challenges the seller’s ability to conduct a 1031 exchange,” said Fetter. “With that in mind, the seller put these on the market at a price that left some of that upside to a future owner in exchange for the opportunity to conduct a traditional 1031 exchange.”