Price: $725,000
Units: 4
Address: 33 S PENNSYLVANIA STREET
City: DENVER
State: CO
ZIP: 80209
PINNACLE ANNOUNCES SALE OF 33 S PENNSYLVANIA STREET IN DENVER
Denver, CO – May 11th, 2015 – Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 33 S Pennsylvania Street in Denver, Colorado. This 4-unit property sold on April 30th with a contract price of $725,000; $181,250 per unit and $228.27 per square foot. The property, constructed in 1934, had hardwood floors throughout, individual laundry facilities for three of the four units and four garages on site.
“The Sellers owned the property for 37 years and were able to sell at a 3.44% in place CAP rate. On the flip side, this was a great value-add opportunity for the Buyers, as the property offered significant and immediate rental upside.”
Jim Knowlton, Senior Advisor at Pinnacle Real Estate Advisors, was the only broker involved in the transaction.
For more information, please contact Jim Knowlton or Robert Lawson at 303-962-9555.
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 2014, Pinnacle Real Estate Advisors closed 307 transactions for a total of $366 million. To view a current list of our buildings for sale in Denver, visit: www.pinnaclerea.com/featured-listings.
| Price: | $725,000 |
| Address: | 33 S Pennsylvania Street |
| City: | Denver |
| State: | CO |
| Zip Code: | 80209 |