Pinnacle Announces the Sale of Tuscany Villas
Posted on March 19, 2018
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 4400 Rawhide Road located in Pueblo, Colorado. The 31 unit multifamily building sold for $2,570,000 or $82,903 per unit. Jamie Mitchell, Principal, and Michael Krebsbach, Senior Advisor, represented the seller in the transaction.
“The seller of this transaction decided to dispose of this property to move his equity into a large mixed use property that we located for him in Northern Colorado in which he will at least double his cash flow. The buyer was in a 1031 exchange and paid all cash for the property. They plan to continue renovating the property and raising rents to market,” stated Mitchell/Krebsbach.