Pinnacle Announces Sale of an 18-Unit Apartment Building in Aurora, CO
Joe Hornstein and Scott Fetter of the Hornstein Fetter Apartment Group at Pinnacle Real Estate Advisors, LLC are pleased to announce the sale of 9121 E. 14th Avenue in Aurora, Colorado. This 18 unit multifamily property is located near the Anschutz/UC Health Medical Complex in the Delmar Parkway MF submarket. The property sold on July 10th, 2019 for $1,900,000; $105,556/unit and $159/square foot. Joe Hornstein and Scott Fetter of the Hornstein Fetter Apartment Group represented the Buyer and Seller in the transaction.
“We love this deal. Our Buyer was actively searching for a 1031 replacement property and we were able to put him into this 18 unit apartment deal off market. It has a great unit mix of one and two bed units and the units themselves are larger than anything in this asset class. While there is some deferred maintenance to address, the price per unit and price per foot make the upside well worth the investment. We always tell our clients to ‘trust the process’ when it comes to selling their assets and going into an exchange. This client did and we’re happy he’s been rewarded with a great deal.” – Scott Fetter