Units: 42
Address: 6449 MILLER STREET
City: ARVADA
State: CO
ZIP: 80004
PINNACLE ANNOUNCES THE SALE OF 42-UNIT APARTMENT BUILDING IN ARVADA
Denver, CO – August 14th, 2017 – Jeff Johnson, Co-Founder and Principal at Pinnacle Real Estate Advisors, LLC, and Jim Knowlton, Principal at Pinnacle Real Estate Advisors, LLC, are pleased to announce the sale of 6449 Miller Street located in Arvada, CO. The 42-unit property, built in 1971, sold for a contract price of $6,950,000; $165,476 per unit and $184.03 per square foot. The property, located near the new Ralston Creek Development in Arvada, featured large, updated one and two bedroom units, and sits on a large, quiet, fenced lot in a market that continues to improve. Jeff Johnson, with the Johnson│Ritter Team represented the Seller in the transaction, and Jim Knowlton with the Knowlton│Lawson Team represented the Buyer in the transaction.
“The Sellers were able to leverage a large increase in the property’s value and trade into multiple apartment properties, thereby increasing their portfolio size,” said Johnson.
For more information, please contact Jeff Johnson at 303-962-9556 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 2016, Pinnacle Real Estate Advisors closed 338 transactions for a total of $622 million. To view a current list of our buildings for sale in Denver, visit:www.pinnaclerea.com/properties.
| Price: | $6,950,000 |
| Address: | 6449 Miller Street |
| City: | Arvada |
| State: | CO |
| Zip Code: | 80004 |