Apartment Building Sale – Pueblo

Price: $2,675,300

Units: 80

Address: 900 W ABRIENDO AVENUE

City: PUEBLO

State: CO

ZIP: 81004

VALUE ADD INVESTORS TARGET TERTIARY MARKET

Denver, CO – February 26, 2014 – Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of two properties in Pueblo, Colorado on February 18, 2014. The Aberdeen at 900 W. Abriendo Avenue is an 80-unit apartment complex built in 1961. Camelot, at 1101 W. Abriendo Avenue, is a 23-unit complex built in 1966 and fully renovated in 2011. Both properties are located just three blocks from Pueblo Community College. The Aberdeen sold for $2,675,300 or $33,441 per unit. Camelot sold for $710,000 or $30,870 per unit. Jeff Johnson and Jim Knowlton represented the seller and Jamie Mitchell represented the buyer in the transaction.

“There has been a lot of activity in Pueblo recently as investors chase higher returns for their multifamily investments,” stated Jeff Johnson, Principal at Pinnacle Real Estate Advisors.

“The buyer was attracted to the property because it was well located and had a seasoned rent roll with an opportunity to raise rents. The properties were part of a larger assemblage of apartments located in Pueblo totaling 374 units,” stated Jamie Mitchell, Senior Advisor at Pinnacle Real Estate Advisors.

For more information, please contact Jim Knowlton, 303-962-9543 or e-mail at JKnowlton@PinnacleREA.com.

Pinnacle Real Estate Advisors Pinnacle Real Estate Advisors is a full-service commercial real estate brokerage firm servicing clients globally who own commercial properties in the metro Denver area and throughout Colorado. Our expertise encompasses all commercial real estate property types. We have experienced advisors specializing in apartment building sales and acquisition; retail property sales, leasing and acquisition; office property sales, leasing, tenant representation, and acquisition; and industrial property sales, leasing and acquisition. The Pinnacle Experience™ is a unique approach that is focused on each client’s needs, delivering superior real estate guidance, proven market perspective and unmatched results. Pinnacle Real Estate Advisors combines market expertise with a Full Spectrum Marketing™ campaign that delivers innovative real estate solutions that are client-centric and relationship focused. In 2013, Pinnacle Real Estate Advisors closed 265 transactions for a total of $292 million. To view a current list of our buildings for sale in Denver, visit: www.pinnaclerea.com/featured-listings.

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• Denver Apartment Buildings