Stapleton Flats Sold for $3,800,000
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of Stapleton Flats located at 1995 Del Mar Parkway in Aurora, Colorado. The 27-unit building sold on May 31st with a contract price of $3,800,000; $140,741 per unit and $168.80 per square foot.
Josh Newell, Principal, commented that “the seller was able to capitalize on strong operations and achieve a record breaking price for a C Class apartment property in North Aurora. The asset is just a few blocks from the Stanley Marketplace, which should have a positive future impact on both rental rates and value.” Newell further added that “the buyer is excited to have successfully achieved their 1031 exchange goals with this property.”
The property was constructed in 1961. Josh Newell, Principal and Barton Thompson, Associate Advisor with the Newell Team at Pinnacle Real Estate Advisors represented the buyer and seller in the transaction.