Apartment Building Sale – Denver

Price: $3,158,000

Units: 17

Address: 310 W ARCHER PLACE

City: DENVER

State: CO

ZIP: 80223

PINNACLE ANNOUNCES SALE OF 17-UNIT APARTMENT BUILDING IN BAKER

Denver, CO – February 16^th, 2017 – Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 310 W Archer Place in Denver, Colorado. This 17-unit multifamily property was built in 1965 and significantly renovated in 2012. The building, located in Denver’s attractive Baker neighborhood, sold on February 16^th for $3,158,000; $185,765 per unit and $353.60 per square foot – a record high price per square foot for the neighborhood. Robert Lawson and Jim Knowlton with the Knowlton│Lawson Team and Joe Hornstein and Scott Fetter with the Hornstein│Fetter Apartment Group represented both the buyer and the seller in the transaction.

“The Buyer recognized this opportunity to get into the Baker apartment market due to both the demographics of the neighborhood and the few competing apartment buildings that serve it. This property is walking distance to the thriving S. Broadway bar/restaurant scene, and it’s also walking distance to Light Rail. Simply put: it’s a great building and a great location,” said Fetter.

“The Buyer assumed the Seller’s current loan, therefore saving the Seller a significant prepayment penalty which accounted for the difference from the list price and the closing price,” 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.