Pinnacle Announces Sale of 8 Units in Longmont

Adam Rakoczy, Associate Advisor, Luke Salazar, Vice President, and Robert Lawson, Principal at Pinnacle Real Estate Advisors, LLC are pleased to announce the sale of 202 & 208 E Longs Peak Avenue, in Longmont, CO. The 8-unit property sold on April 1st for a Contract Price of $2,180,000 ($272,500/Unit). The property, built in 1979, consisted of two side-by-side 4-plexes with spacious, townhome style 2Br/1.5Ba units featuring updated kitchens, flooring, baths and in-unit washers and dryers.  Each unit also has a private fenced in patio and the community recently got all new roofs and gutters.

“This transaction represents the patience of a 1031 Buyer who was willing to wait and see what the market would bear. After closing of his downleg property, we were able to find an off-market property that perfectly complemented the buyer’s current portfolio. The buyer was able to close quickly with an all-cash offer making this a win for both buyer and seller,” said Rakoczy.