Pinnacle Announces Sale of 6 Property Portfolio in Broomfield
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 240, 285, 295, 310, 320 and 340 Laurel Street in Broomfield, CO. The 14-unit portfolio, consisting of 5 duplexes and 1 fourplex, sold on February 9th for a Contract Price of $2,390,000; $170,714.29 per unit and $223.97 per square foot. Jim Knowlton and Robert Lawson, Principals, and Luke Salazar, Associate Advisor, represented both the Buyers and the Seller in the transactions.
“The seller accumulated a large amount of equity over the last ~15 years acquiring these smaller properties. His focus now is to take that equity and put it into a larger multifamily building and increase his cash flow,” said Salazar.