Pinnacle Announces Sale of Arvada Flats in Arvada, CO

Josh Newell, Owner/Principal at Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of Arvada Flats, located at 7822 Oberon Road in Arvada, CO. The 51-unit apartment building was built in 1976 and sold on September 7th with a contract price of $14,350,000; $281,373 per unit and $295.12 per square foot. “Our marketing process delivered strong results as evidenced by the 30 Buyer tours and the 13 written offers we received. Ultimately, we awarded the deal to an Out-of-State Buyer who was at 99% of our pricing guidance,” commented Josh Newell. Newell represented both the Seller and Buyer in the transaction.