Pinnacle Announces Sale of a 21-Unit Apartment Building in Denver
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 1410 Poplar Street located in Denver, Colorado. This multifamily property has 21-units and was built in 1949. The building is located east of Downtown Denver and sold for $4,025,000 ($191,667/unit; $291.43/square foot). Eric Veith represented the buyer in the transaction. Matt Lewallen and Kevin Calame represented the seller in the transaction.
“The Buyer had sold a value-add apartment building elsewhere in the city, and was looking for a replacement property that required less work,” according to Veith. “This property was in extremely good condition for a building of that vintage, and it was clear that it will operate very smoothly into the foreseeable future. The buyer was also attracted to the up-and-coming nature of the East Colfax neighborhood, and is excited to be a part of the ongoing growth in that part of town.”