Pinnacle Announces the Sale of a 4-Unit Apartment Building in Congress Park Neighborhood
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 1324 Clayton Street located in Denver, Colorado. This multifamily property has 4 units and was built in 1896. The building is located on Clayton Street, just north of Congress Park. The property sold on June 15, 2018 for $930,000; $232,500/unit and $316.54/square foot. Joe Hornstein, Principal, represented the seller and Scott Fetter, Principal, represented the buyer in the transaction.
“The buyers completed a 1031 exchange after the sale of an apartment building outside of Central Denver,” Hornstein said. “This property was about a block from one of the buyers properties, so it worked out well. The seller saw this as an opportunity to profit from an unprecedented run in multifamily values and focus on other endeavors.”