Pinnacle Announces Sale of 40 Units in Lakewood

Mark Knowlton, Associate Advisor, Jim Knowlton, Owner/Principal, and Chris Knowlton, Vice President, with the Knowlton Lawson Team at Pinnacle Real Estate Advisors, LLC are pleased to announce the sale of Country Club Ridge Apartments located at 1070 Teller Street in Lakewood, CO. The 40-unit property sold on December 6th for a Contract Price of $7,100,000; $177,500 per unit and $238 per square foot. The unique, value-add 40-unit property, consisting of 3 apartment buildings on a large 79,000 square foot lot, was located just half a mile from the Lakewood-Wadsworth Light Rail Station and just blocks from the Lakewood Country Club. The legacy asset featured an attractive unit mix of (4) studios, (32) 1Br/1Ba units and (4) large 2Br/1Ba units, with numerous upgrades to the major systems including new boilers, new windows, and a newer roof.