Josh Newell, Owner/Principal and Spencer Pierpont, Associate Advisor with the Newell Team at Pinnacle Real Estate Advisors, LLC are pleased to announce the sale of 5955 Yukon Street in Arvada, CO. The 6-unit apartment building was built in 1960 and sold on October 22nd with a contract price of $1,050,000; $175,000 per unit and $184 per square foot. Josh Newell and Spencer Pierpont represented both the Seller and Buyer. “We were able to match this property with a first-time Buyer completing a 1031 exchange out of Southern California,” said Josh Newell. “The building was 50% vacant when we went under contract, and the Buyer still paid a strong price as they saw the upside in leasing it back up in a solid Arvada location. Out-of-state exchange capital continues to be an important part of the Buyer pool for small to mid-size multifamily in metro Denver and this deal is a good example of what our marketing platform can do for a Seller.”

For more information on this sale please contact Josh Newell at 303-962-9559 / JNewell@PinnacleREA.com or Spencer Pierpont at 303-228-7807 / SPierpont@PinnacleREA.com.