Pinnacle Announces Sale of Value-Add Multifamily Property In Longmont
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 2253 Collyer Street in Longmont, CO. The 17-unit property, consisting of 6 – 2Br/1Ba units and 11 – 1Br/1Ba units, sold on May 20th for a Contract Price of $2,650,000; $155,882 per unit and $203.58 per square foot. The property, located on a large 0.49-acre lot, just blocks from Main Street and Lanyon Park, featured under market rents, 26 off-street parking spaces, newer roof, and immediate upside through renovations and increased rents to market rates. Luke Salazar, Associate Advisor, and Jim Knowlton and Robert Lawson, Principals, represented the Buyer in the transaction.