Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 3700 Parfet Street in Wheat Ridge, CO. The 48-unit property, built in 1963, sold on November 12^th for a contract price of $9,000,000; $187,500 per unit and $177 per square foot. The value-add property was comprised of six 8-unit buildings, all with two story townhome style 2-bedroom, 1.5 bath units. Chris Knowlton, Senior Advisor, and Jim Knowlton, Principal, represented the Buyer in the transaction.

“This was a highly competitive bidding process, with over 10 offers received on the deal. The Buyers plan to renovate the unit and push rents to market rates,” said Chris Knowlton.