Pinnacle Announces Sale of Mixed-Use Investment Property In Lower Highlands
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of Union Block located at 1501-1503 Boulder Street and 2902-2908 Umatilla Street in Denver, CO. The mixed-use property, consisting of four residential units and two retail units, sold on December 10th for a Contract Price of $3,100,000; $516,667 per unit and $406.18 per square foot. Located in the heart of the highly desirable Lower Highlands Neighborhood, with convenient access to the light rail, bus lines, bike paths and I-25, the fully occupied property is walking distance to some of Denver’s hottest restaurants and retailers. Jim Knowlton, Principal, represented the Buyer in the transaction.
“The Buyer was in a 1031 exchange and was able to increase his yearly cash flow by over 120% with this acquisition,” said Knowlton.
For more information on this sale please contact Jim Knowlton at 303-962-9543 or JKnowlton@PinnacleREA.com.