Pinnacle Announces the Sale of 2545 Champa Street
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of the Gertrude Apartments at 2545 Champa Street in Denver, CO. Located in the Five Points neighborhood, the 10-unit apartment building sold for $1,469,072, or $267 per square foot. Erik Toll represented the Buyers in the transaction.
“The property certainly posed its challenges: it held two historical designations, had been under the same management for forty years, was 60% vacant, and was in a latent state of disrepair,” stated Toll. “This, coupled with the rarity of multifamily assets in Curtis Park, rendered it into an incredible value-add opportunity. Five Points commands some of the highest rents in Denver and true value-add projects are all but extinct in Central Denver. My team is very excited to have been a part of the transaction and are confident our client will thrive here.”