Price: $975,000
Units: 8
Address: 126 W BAYAUD AVENUE
City: DENVER
State: CO
ZIP: 80223
PINNACLE ANNOUNCES SALE OF 126 W BAYAUD AVENUE IN DENVER
Denver, CO – April 1st, 2016 – Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 126 W Bayaud Avenue in Denver, Colorado. This 8-unit property sold on April 1st with a contract price of $975,000; $121,875 per unit and $286.76 per square foot. The property, located just one block from South Broadway’s shops, bars and restaurants, featured units with exposed brick and hardwood floors, a new roof, new boiler and 4 income producing garage stalls.
Robert Lawson and Jim Knowlton, Senior Advisors at Pinnacle Real Estate Advisors, and Chris Knowlton, Associate Advisor at Pinnacle Real Estate Advisors, worked with the buyer. Scott Fetter, Senior Advisor at Pinnacle Real Estate Advisors, represented the seller.
“This transaction was the upleg 1031 exchange property for a client who we just facilitated the sale of a smaller apartment building with an annual cash flow of about $8,000. 126 W Bayaud has an annual cash flow of about $30,000, which is an over 260% increase in return for our exchange client,” said Lawson.
“For the Seller, this was always going to be a short term hold,” according to Fetter. “He purchased the property off-market with a seller carry agreement that featured seller favorable terms. But his gamble that the Denver market would continue its march upward paid off as he sold the property in less than a year for a nice profit.”
For more information, please contact Robert Lawson or Scott Fetter at 303-962-9537/303-962-9564.
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 2015, Pinnacle Real Estate Advisors closed 356 transactions for a total of $508 million. To view a current list of our buildings for sale in Denver, visit: www.pinnaclerea.com/featured-listings.
| Price: | $975,000 |
| Address: | 126 W Bayaud Avenue |
| City: | Denver |
| State: | CO |
| Zip Code: | 80223 |