Price: $6,900,000
Address: 2655 DEPEW STREET
City: EDGEWATER
State: CO
ZIP: 80202
PINNACLE ANNOUNCES THE SALE OF 36 UNITS IN SLOAN’S LAKE
Edgewater, CO – April 8th, 2019 – Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 2655 Depew Street in Edgewater. The 36-unit property, built in 1969 and renovated in 2011, is located on a 1.11 acre lot. The property sold on April 8th for a contract price of $6,900,000; $191,667 per unit and $219 per square foot. The property featured 6 buildings with 6-2Br/1.5Ba townhome style units each, new roofs, new gutters, and all units were individually metered for gas and electric. Chris Knowlton, Advisor, and Jim Knowlton, Principal, represented the Buyer in the transaction.
“This is a great value add opportunity in the highly sought after Sloan’s Lake neighborhood. It was a very competitive process to secure this deal as there were multiple offers on the table. Our buyers are extremely excited about the opportunity to improve the asset and bring rents up to market,” said Chris Knowlton.
For more information, please contact Chris Knowlton at 303-962-9566 or Jim Knowlton at 303-962-9543.
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 2018, Pinnacle Real Estate Advisors closed 348 transactions for a total of $703 million. To view a current list of our buildings for sale in Denver, visit: www.pinnaclerea.com/properties.
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| Price: | $6,900,000 |
| Address: | 2655 Depew Street |
| City: | Edgewater |
| State: | CO |
| Zip Code: | 80202 |