Pinnacle Announces Sale of 6-Unit Property in Evans
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 3006 Denver St in Evans, CO. The 6-unit property, built in 1974, sold on February 21st for a Contract Price of $720,000; $120,000 per unit and $164.16 per square foot. Located in an Opportunity Zone, just 1.5 miles south of the University of Northern Colorado, the property features an ideal unit mix of 1-bedroom, and 2-bedroom apartments. Charlie Mitelhaus, Associate Advisor, and Andrew Monette, Vice President, assisted the Seller and the Buyer in the transaction.
“The closing of 3006 Denver St is the third transaction closed with this client over the past two years. This sale allowed them to help fund their 1031 Exchange property, as we effectively were able to sell both of their smaller assets, to exchange into a larger property to alleviate their management responsibilities and drastically increase their cashflow. We are beyond pleased to, again, help these loyal clients achieve their real estate goals,” said Mitelhaus.