Apartment Building Sale – Lakewood

Price: $1,125,000

Units: 8

Address: 9493 W 14th AVENUE

City: LAKEWOOD

State: CO

ZIP: 80215

PINNACLE ANNOUNCES SALE OF 9493 W 14^th AVENUE

Denver, CO – July 21^st, 2016 – Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 9493 W 14^th Avenue in Lakewood, Colorado. This 8-unit property sold on July 14^th with a contract price of $1,125,000; $140,625 per unit and $120.32 per square foot. The property, located just 2 blocks from the Garrison Light Rail Station, featured large two and three bedroom units, with a large courtyard, plenty of off-street parking, and a newer roof.

Robert Lawson, Senior Advisors at Pinnacle Real Estate Advisors, represented the buyer.

“The high demand for apartment buildings priced below $2,000,000 in the Denver-Metro market makes it very challenging for investors to successfully compete for properties. When we first looked at this opportunity it went under contract before we had time to evaluate the true potential. However, the property fell out of contract and came back on the market so the first day we toured the property we wrote an offer and secured the deal quickly. This property was the buyer’s first acquisition in the Denver market, and he was able to find a quality asset in a great location within walking distance to light rail and with immediate upside in rents. He plans on renovating a few of the units and holding onto the property long term,” said Lawson.

For more information, please contact Robert Lawson at 303-962-9537.

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.