Pinnacle Announces Sale of Two Four-Plexes in Lakewood

Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 5545 – 5575 West 3rd Place in Lakewood, Colorado. This multifamily property includes two four-plex buildings with large two-story 2Bd/1Ba units. The 5545 W 3rd Place sold on January 19th, 2017 and 5575 W 3rd Place sold on December 28th, 2016 for $770,000 or $96,250 per unit. Eric Veith, along with the Hornstein│Fetter Apartment Group, represented both the seller and buyer in this transaction.

“The seller was a long-term owner that decided it was time to take his money off the table and retire,” said Veith. “That opened a great opportunity for a trade buyer to purchase at a good price and begin investing in updates to the property immediately.”