Pinnacle Announces the Sale of 20-Unit Multifamily Property in Arvada

Posted on October 18, 2022

Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of a 20-unit multifamily property for $3,750,000 ($187,500/Unit, $348.19/SF), with an in-place Cap Rate of 5.55% and a proforma Cap Rate of 6.16%, located at 5840 Carr Street in Arvada, Colorado. Barton Thompson, Vice President, represented the seller and buyer in the transaction.

Building Type: Multifamily
  • 18/20 Units Fully Renovated Upon Delivery
Cap Rate: 5.55%
  • Highly Desirable Location – 1/2 Mile from Olde Town Arvada & RTD
Year Built: 1958
  • Upside Opportunity as the Result of a Recent $200/ Unit/Month Increase of Rents in the Neighborhood
Building Size: 10,770 SF
  • Roof Replaced in 2017
Lot Area: 21,500 Acres
  • New Exterior Paint and New Electric Panels in Every Unit