Pinnacle Announces Sale of a Duplex in the Baker 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 42 & 44 W Cedar Avenue located in Denver, Colorado. This multifamily property has 2 units and was built in 1900. The building is located on Cedar Avenue, just west of Broadway. The property sold on November 1, 2018 for $602,950; $301,475/unit and $364.65/square foot. Joe Hornstein and Scott Fetter of the Hornstein Fetter Apartment Group represented the seller in the transaction.
“This property sits square in the middle of several large construction projects that are either in the works or have already broken ground. Baker isn’t necessarily the first neighborhood Denver-ites brag about when talking about this city, but it certainly attracts renters. These units are renting for over $3/ft. When paired with the growth the area is seeing, Baker’s old homes become very attractive, and that’s what we saw here, fetching almost $365/ft for a property with fairly limited updates.” Fetter said