Apartment Building Sale – Longmont

Price: $1,495,000

Units: 22

Address: 1013 MAIN STREET

City: LONGMONT

State: CO

ZIP: 80501

PINNACLE ANNOUNCES SALE OF 22-UNIT APARTMENT COMPLEX IN LONGMONT

Longmont, CO – October 21, 2016 – Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 1013 Main Street, located in Longmont, Colorado. This multifamily property has 22 units and was built in 1966. The property was unique in the fact that it was one of the lowest price/unit apartment deals on the market at $67,954/unit and $155/SF. The building is just blocks away from Historical Downtown Longmont, an area that is quickly improving. Scott Fetter with the Hornstein│Fetter Apartment Group and Jim Knowlton with the Knowlton│Lawson Team represented both the seller and the buyer in this transaction.

“This was a tricky transaction, recalls Fetter, as the asset has significant potential but required a unique operator to make it work. I think the buyer is the perfect fit and he should do very well with his purchase. The Seller will complete a 1031 Exchange into a more centrally located property.”

For more information, please contact Jim Knowlton at 303-962-9543 or email at JKnowlton@PinnacleREA.com.

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.