Pinnacle Announces the Sale of Eight Units in Longmont
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 3043 17th Avenue in Longmont, CO. The 8-unit property, built in 1971, sold on May 22nd for a contract price of $1,725,000; $215,625 per unit and $219 per square foot. The fully renovated property featured (8) 2Bd/1Ba units with assigned off-street parking. Despite COVID pandemic challenges, the property was 100% occupied and had full rent collections at the time of closing. Luke Salazar, Associate Advisor, and Jim Knowlton and Robert Lawson, Principals, represented both the Buyer and the Seller in the transaction.
“The interior and exterior of this property was extremely well-renovated and represents a true turn-key investment. We worked through many difficulties throughout the contract period but both buyer and seller worked to get this to the closing table,” said Salazar.