Pinnacle Announces Sale of a 17-Unit Apartment Building in the Lakewood Neighborhood
Joe Hornstein and Scott Fetter of the Hornstein Fetter Apartment Group at Pinnacle Real Estate Advisors, LLC are pleased to announce the sale of 7310 W. 10th Avenue located in Lakewood, Colorado. This multifamily property has 17 units and was built in 1960. The building is located on 10th Avenue, just east of Wadsworth Blvd and the Light Rail Station. The property sold on December 28, 2018 for $2,450,000; $144,118/unit and $195/square foot. Joe Hornstein represented the seller and Scott Fetter represented the buyer in the transaction.
“The Sellers had updated several units and had established top of the market rental rate for updated units,” Hornstein said. “The property sold at market investment return, but Buyer intends to continue making additional improvements to maximize the value long term.”