Pinnacle Announces Sale of the 16-Unit Bear’s Den Apartments in Greeley, CO
Scott Fetter and Joe Hornstein of the Hornstein Fetter Apartment Group at Pinnacle Real Estate Advisors, LLC are pleased to announce the sale of Bear’s Den Apartments located at 1609-1617 10th Avenue in Greeley, Colorado. This multifamily property consists of 16 units contained in four buildings that were built between 1906 & 1925. The property is immediately adjacent to the University of Northern Colorado Campus, a high rent growth area with tremendous value add potential. The property sold on May 31st, 2019 for $1,925,000; $120,313/unit and $252/square foot. Scott Fetter and Joe Hornstein were the only brokers involved in the transaction.
“This is another great example of a Buyer entering his 1031 exchange, trusting the process with our team and landing a great investment as a result. This deal increased the number of units the Buyer owns, and it also will give him opportunity to significantly increase his equity by seeing the value add opportunities at the property to completion”. – Scott Fetter.