Address: 9151 FONTAINE STREET
City: FEDERAL HEIGHTS
PINNACLE ANNOUNCES THE SALE OF 9151 FONTAINE STREET
Federal Heights, CO – August 30th, 2019 – Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 9151 Fontaine Street in Federal Heights. The 15-unit property, built in 1971, is a rare Federal Heights multifamily offering. The property sold on August 30th for a contract price of $2,040,000; $136,000 per unit and $234 per square foot. The property featured a great unit mix of (7) 1Bd/1Ba & (8) 2Bd/1Ba units, with newer windows, a new 50 kilowatt solar panel system, and large rental upside in as-is condition. Jim Knowlton and Josh Newell, Principals, and Connor Knutson, Advisor, represented the Seller in the transaction, Joe Hornstein and Scott Fetter, Principals, represented the Buyer in the transaction.
“9151 Fontaine is located in Federal Heights, near Westminster and has a great mix of units and good cash flow. The return is further boosted by the great interest rate the Buyer got (3.92%) as well as the solar panel system in place at the property that offsets almost the entire electric consumption at the property. When all this is considered, the Buyer should establish returns on his investment that are pretty difficult to replicate buying in Denver’s multifamily market right now.” – Scott Fetter
For more information, please contact Jim Knowlton at 303-962-9543.
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 2018, Pinnacle Real Estate Advisors closed 348 transactions for a total of $703 million. To view a current list of our buildings for sale in Denver, visit: www.pinnaclerea.com/properties.
|Address:||9151 Fontaine Street|