Pinnacle Announces Sale of a 27 Unit Multifamily Property in Colorado Springs

Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of a 27 Unit multifamily property for $2,426,000 located at 2237 E Boulder St, Colorado Springs, Colorado. Michael Krebsbach, Senior Advisor, represented the seller, and Kenny Clarke, Associate Advisor, represented the Buyer.

“The Seller will be exchanging into a Single-Tenant NNN Retail property that offers easy mailbox money with a long term lease and a high credit tenant, while the Buyer plans to improve and stabilize the property. The Buyer plans to do a number of renovations to the interior and exterior of the property in order to bring rents to market. The Buyer offered hard earnest money within two weeks of going under contract, and did not ask for any retrades, buying the property as-is.” said Mike Krebsbach and Kenny Clarke of Pinnacle Real Estate.