Pinnacle Announces Sale of a 8-Unit Apartment Building in Lakewood
Posted on May 22, 2018
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 1437 Depew Street located in Lakewood, Colorado. This multifamily property has a total of 8 units, two adjacent four unit buildings, and was built in 1951. The building is located on Depew Street, just south of Colfax Avenue. The property sold on May 22, 2018 for $994,950; $124,368.75/unit and $157.03/square foot. Joe Hornstein and Scott Fetter, Principals, represented the buyer and the seller in the transaction.
“The buyer was Del Norte Neighborhood Development Corporation, a local non-profit, who purchased with the intention of providing affordable housing to residents,” Hornstein said. “The seller was completing a 1031 exchange into a property out of state.”