Price: $2,535,000
Units: 24
Address: 6465 W 38TH AVENUE
City: WHEAT RIDGE
State: CO
ZIP: 80033
PINNACLE ANNOUNCES SALE OF 6465 W 38th AVENUE IN WHEAT RIDGE
Denver, CO – September 28th, 2015 – Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 6465 W 38th Ave in Wheat Ridge, Colorado. This 24-unit property sold on September 28th with a contract price of $2,535,000; $105,625 per unit and $112.71 per square foot. The property boasts large units and each unit enjoys its own balcony/patio. The building has a new high efficiency boiler system and there is ample upside in rents for the Buyer to quickly realize.
“My client was in a 1031 exchange and owns another multifamily property just two blocks away from 6465 W 38th Ave, so this is a great fit for her portfolio. The Buyer plans to renovate all of the units and hold on to the property long term,” said Knowlton.
Jim Knowlton, Senior Advisor at Pinnacle Real Estate Advisors, represented the Buyer in this transaction.
For more information, please contact Jim Knowlton or Robert Lawson at 303-962-9543/303-962-9537.
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 2014, Pinnacle Real Estate Advisors closed 307 transactions for a total of $366 million. To view a current list of our buildings for sale in Denver, visit: www.pinnaclerea.com/featured-listings.
| Price: | $2,535,000 |
| Address: | 6465 W 38th Avenue |
| City: | Wheat Ridge |
| State: | CO |
| Zip Code: | 80033 |