Pinnacle Announces Sale of 9-Unit Apartment Building in West Denver
Joe Hornstein and Scott Fetter of the Hornstein Fetter Apartment Group at Pinnacle Real Estate Advisors, LLC are pleased to announce the sale of the 4439 W. Nevada Place. This 9 unit multifamily property was built in 1956 and is conveniently located in west Denver near Alameda & Sheridan. The property is entirely comprised of 2BD/1BA Units. The transaction closed on December 30th, 2019 for $1,525,000 or $169,444 per unit. Scott Fetter and Joe Hornstein represented the Seller and David Barocas represented the Buyer in this transaction.
“This sale has one of the higher in-place cap rates we’ve transacted this year. The property has all 2bd units that are separately metered and finished to a pretty nice quality. The rents are good and this was a great deal for an exchange buyer who sold a smaller property out of state and wanted to exchange into something here in Colorado.” – Scott Fetter