Price: $1,405,000
Units: 12
Address: 809-825 OAK STREET
City: LAKEWOOD
State: CO
ZIP: 80215
PINNACLE ANNOUNCES SALE OF 809-825 OAK STREET, LAKEWOOD CO
Denver, CO – June 27th, 2016 – Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 809-825 Oak Street in Lakewood, Colorado. This 12-unit property sold on June 21st with a contract price of $1,405,000; $117,083 per unit and $137.48 per square foot. The property, consisting of two side-by-side 6 plexes on a 27,000 SF lot, featured large, updated one and two bedroom units and was located just blocks from the Oak Street Light Rail Station.
Robert Lawson and Jim Knowlton, Senior Advisors at Pinnacle Real Estate Advisors, and Chris Knowlton, Associate Advisor at Pinnacle Real Estate Advisors, worked with both the buyer and the seller.
“We received 12 offers in the first few days of marketing and ultimately went under contract above list price! Both the seller and buyer were completing 1031 exchanges. The seller planned on exchanging into raw land for multifamily development, and the buyer already owns multi-family property in Lakewood and saw the value-add potential in this property as a great opportunity to add to his existing portfolio,” said Chris Knowlton.
For more information, please contact Robert Lawson or Chris Knowlton at 303-962-9537/303-962-9566.
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: | $1,405,000 |
| Address: | 809-825 Oak Street |
| City: | Lakewood |
| State: | CO |
| Zip Code: | 80215 |