Price: $1,710,000
Units: 15
Address: 1950-1960 N UPHAM STREET
City: LAKEWOOD
State: CO
ZIP: 80214
PINNACLE ANNOUNCES SALE OF 1950-1960 N UPHAM ST IN LAKEWOOD
Denver, CO – December 10th, 2015 – Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 1950-1960 N Upham Street in Lakewood, Colorado. This 15-unit property sold on December 1st with a contract price of $1,710,000; $114,000 per unit and $155.55 per square foot.
The all brick property, constructed in 1963, featured just under 30,000 square feet of land with two separate apartment buildings in a quiet suburban Lakewood, CO neighborhood. The unit mix was very attractive with large 2 and 3 bedroom units and immediate upside in rents.
“The out of state buyer had been looking very seriously for a few months at much larger assets in more urban locations; however, the lack of inventory and compressed returns made him reevaluate markets and price points. As soon as this opportunity came up we submitted a quick 45 day close with an above asking price offer and a non-refundable earnest money contingency to make sure the seller knew we were serious,” said Lawson.
Robert Lawson, Senior Advisor at Pinnacle Real Estate Advisors, represented the buyer in this transaction.
For more information, please contact Robert Lawson or Jim Knowlton at 303-962-9537/303-962-9543.
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 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: | $1,710,000 |
| Address: | 1950-1960 N Upham Street |
| City: | Lakewood |
| State: | CO |
| Zip Code: | 80214 |