Pinnacle Announces Sale of 12-Unit Apartment Building in Denver
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 2358 South University Boulevard located in Denver, Colorado. This 12-unit multifamily property was built in 1961, with renovations taking place in 2012. The building is located just one block from the University of Denver campus with easy access to I-25 and the University RTD Station. The property sold on March 27, 2017 for $1,885,000 or $157,083 per unit. Jeff Johnson and Matt Ritter, with the Johnson Ritter Team, represented the Seller in the transaction and Peter Sengelmann and Jeff Johnson, of the Johnson Ritter Team, represented the Buyer.
“The sale of South University was a great addition to the Buyers portfolio, which also enabled the Seller to leverage their equity to increase their monthly revenue through a successful 1031 exchange,” stated Peter Sengelmann, Advisor at Pinnacle Real Estate Advisors.