Pinnacle Announces Sale of 49 Unit Property in Durango
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of Aspen Village Apartments located at 2970 & 2940 Main Avenue in Durango, CO. The 49-unit property sold on November 10th for a Contract Price of $6,800,000; $138,776 per unit and $299.69 per square foot. Located just minutes from Central Business District and Fort Lewis College, the exterior walk-up property featured interior and exterior updates, on-site laundry, parking and community amenities, and an attractive unit mix of studios, one-bedroom and two-bedroom units. Jim Knowlton, Principal, represented the Buyer in the transaction.
“The Buyers recently sold two properties in the Denver Metro area and were able to significantly increase their cash flow by 1031 exchanging into 2970 & 2940 Main Avenue,” said Knowlton.
For more information on this sale please contact Jim Knowlton at 303-962-9543 or JKnowlton@PinnacleREA.com.