BrokerageMultifamily

Pinnacle Announces Sale of 21 Logan Street & 1335 Gaylord Street

Denver, CO – Pinnacle Real Estate Advisors, LLC, are pleased to announce the sale of 21 Logan Street & 1335 Gaylord Street located in Denver, CO. 21 Logan, a 12-unit property built in 1961, and 1335 Gaylord, a 17-unit property built in 1968, were sold together for a contract price of $5,723,000; $197,345 per unit and $341.86 per square foot. Both properties featured updated units with newer carpet and tile floors, cabinets, countertops, appliances, fixtures, and paint. Robert Lawson and Jim Knowlton with the Knowlton│Lawson Team represented the Sellers in the transaction, and Joe Hornstein and Scott Fetter with the Hornstein│Fetter Apartment Group represented the Buyers.

“The Buyers believe location is the most important aspect to owning real estate long term, which is what attracted them to this opportunity,” Hornstein said.  “1335 Gaylord Street was actively listed, but the Buyers wanted to acquire both properties to consider putting the deal together. The Buyers intend to make significant improvements to both properties over the long term to achieve maximum revenue potential.”

Image Courtesy of Pinnacle Real Estate Advisors

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