Price: $4,500,000
Address: 510 & 530 13TH AVENUE
City: GREELEY
State: CO
ZIP: 80631
PINNACLE ANNOUNCES THE SALE OF 35 UNITS IN GREELEY
Greeley, CO – January 27th, 2020 – Jim Knowlton, Principal at Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 510 and 530 13th Avenue in Greeley, CO. The 35-unit property, comprised of 3 separate buildings, sold on January 27th for a contract price of $4,500,000; $128,571 per unit and $147 per square foot. The property featured a great unit mix of (32) 2Bd/1Ba units, (2) 3Bd/1Ba units, and 1 studio unit, all individually metered for gas and electric, and many units updated with new floors, granite countertops, and stainless steel appliances. Jim Knowlton represented the Buyers in the transaction.
“The Buyers were in a 1031 exchange after selling a property in Central Denver at a 5.5% CAP Rate. They took their equity and were able to significantly increase their cash flow with the purchase of these 3 properties,” said Knowlton.
For more information on this sale please contact Jim Knowlton at 303-962-9543 or 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 2019, Pinnacle Real Estate Advisors closed 272 transactions for a total of $608 million. To view a current list of our buildings for sale in Denver, visit: www.pinnaclerea.com/properties.
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| Price: | $4,500,000 |
| Address: | 510 & 530 13th Avenue |
| City: | Greeley |
| State: | CO |
| Zip Code: | 80631 |