Pinnacle Announces Sale of a 8-Unit Apartment Building in Lakewood

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.”