Pinnacle Continues Multi-Family Brokerage Colorado Springs to Denver
Colorado Springs, CO – Pinnacle Real Estate Advisors, LLC announces the sale of 1075 Magnolia St, Colorado Springs, Colorado. This multifamily property has 4 units and was built in 1972. The building is located less than a mile south of the University of Colorado’s Colorado Springs campus. The property sold on July 5th, 2016 for $290,000 or $72,500 per unit. Brent Hubbell represented the seller while Jeff Johnson, with the Johnson Ritter Team, represented the buyer in the transaction.
“The buyer expressed a need for a 4-unit deal in Colorado Springs. Pinnacle was able to identify an off-market opportunity that benefited both buyer and seller,” stated Brent Hubbell of Pinnacle Real Estate Advisors.
Denver, CO – Pinnacle Real Estate Advisors, LLC completes the sale of 1415 Cook Street located in Denver, Colorado. This value-add multifamily property has 15 units and was built in 1962. The building is located just off Colfax Avenue near City Park. The property sold on July 12, 2016 for $1,925,000. Jeff Johnson and Matt Ritter, with the Johnson Ritter Team, assisted both the Buyer and the Seller in the transaction.
“The seller of 1415 Cook St had accrued a significant amount of equity throughout his years of ownership. By trading into a larger property, our client was able to dramatically increase his return on equity, increase his monthly cash flow, and avoid looming capital improvement expenses” stated Jeff Johnson, Principal at Pinnacle Real Estate Advisors.
Photos courtesy of Pinnacle Real Estate Advisors