Apartment Building Sale – Lakewood

Price: $1,675,000

Units: 14

Address: 1320 AMMONS STREET

City: LAKEWOOD

State: CO

ZIP: 80214

PINNACLE ANNOUNCES SALE OF 14-UNIT APARTMENT BUILDING IN LAKEWOOD

Denver, CO – September 1, 2016 – Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of a 14 unit multifamily property located at 1320 Ammons Street in Lakewood, Colorado. The property sits just south of Colfax, directly adjacent to the Light Rail West Line and only 3 blocks from the Wadsworth Station.

“Being so close to the Light Rail was obviously a big attraction for the buyer, but he also saw a good value add opportunity by completing some physical upgrades. The building was originally constructed in 1961 and the property’s previous two owners had each made several capital improvements projects to the property including a new roof, new windows, repaving the parking lot, and installing real oak hardwood flooring in 6 of the 14 units. The new owner will be doing the last of the heavy lifting installing the remaining hardwood floors in 8 units, installing all new kitchens, bathrooms and upgrading the electricity to turn the property into a true turn-key investment.” stated Robert Lawson, Senior Advisor at Pinnacle Real Estate Advisors.

The property sold on September 1, 2016 for $1,675,000 ($119,643/unit; $134/square foot).  Joe Hornstein and Scott Fetter represented the seller in the transaction, and Robert Lawson represented the buyer.

For more information, please contact Joe Hornstein at 303-962-9547, Scott Fetter at 303-962-9564, or Robert Lawson 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.