Pinnacle Announces Sale of 6-Unit Apartment Building in the Heart of University of Denver
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 2000 South York Street in Denver, Colorado. This multifamily property has 6 units and was originally built in 1957 with an addition added in 1984, and was renovated in 2010 and 2017. The building is located near the intersection of East Asbury Avenue and South University Boulevard, in the heart of the University of Denver. The property sold on February 5, 2018 for $1,850,000 or $308,333 per unit. Andrew Monette and Jeff Johnson, with the Johnson Ritter Team, facilitated the transaction, representing the seller.
“As long-term holders, the sellers did a great job with renovating the building and had built up a tremendous amount of equity in the property. By disposing of the asset, the sellers alleviated themselves of management responsibilities and freed up capital for other ventures,” stated Monette.