Pinnacle Announces Sale of a 16-Unit Apartment Building in East Denver
Joe Hornstein and Scott Fetter of the Hornstein Fetter Apartment Group at Pinnacle Real Estate Advisors, LLC are pleased to announce the sale of 1415 Yosemite Street located in Denver, Colorado. This multifamily property has 16 units and was built in 1960. The building is located on Yosemite Street, just west of Fitzsimons Campus and North of the Lowry Development. The property sold on November 19, 2018 for $2,000,000; $125,000/unit and $158/square foot. Joe Hornstein and Scott Fetter of the Hornstein Fetter Apartment Group represented the seller in the transaction.
“The sellers purchased the property, added value by updating units and increasing rental rates and was able to exit at what they believe is the top of the market,” Hornstein said. “The buyer was able to obtain a stable, cash flowing asset with very little deferred maintenance.”