Pinnacle Announces Sale of Lebaron Apartments, A 17-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 11948 E. 17th Avenue in Aurora, Colorado. This 17 unit multifamily property is located in immediate proximity to the Anschutz/UC Health Medical Complex in the North Aurora submarket. The property sold on July 9th, 2019 for $2,175,000; $127,941/unit and $171/square foot. Joe Hornstein and Scott Fetter of the Hornstein Fetter Apartment Group represented the Seller in the transaction.
“The building has an excellent location in the North Aurora submarket, and paired with a mix of one and two bedroom units, this asset drew a lot of interest from the market. To close at the price we did the Buyer had to assume the Seller’s existing debt. Avoiding a rather costly prepay helped the buyer land this deal with attractive debt at a price that worked out nicely for the Seller.” – Scott Fetter