Pinnacle Announces Sale of a 12-Unit Apartment Building in the Arvada Neighborhood
Joe Hornstein and Scott Fetter of the Hornstein Fetter Apartment Group at Pinnacle Real Estate Advisors, LLC are pleased to announce the sale of 9990-10000 W. 59th Place located in Arvada, Colorado. This multifamily property has 12 units and was built in 1959. The building is located on 59th Place, just west of Old Town Arvada. The property sold on December 21, 2018 for $1,990,000; $165,833/unit and $212/square foot. Joe Hornstein and Scott Fetter of the Hornstein Fetter Apartment Group represented the seller in the transaction.
“This has been a great property for the owners. They took it over in good condition and the building required minimal capital improvements to maintain its performance” Fetter said “Rent growth in Arvada allowed for some nice appreciation and the Sellers are happy to move forward in search of a larger asset.”