Pinnacle Announces Sale of 17 Unit Light Value-Add Property in Denver

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Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 815 Cherry Street in Denver, CO. The 17-unit property, built in 1953, sold on July 26th for a Contract Price of $4,600,000; $270,588 per unit and $227.54 per square foot. The property consists of (2) studios, (13) 1Br/1Ba units, and (2) 2Br/1Ba units.

Located in the booming area next to 9th and Colorado Boulevard, the value-add property is blocks away from the new 9+ CO redevelopment and just minutes from Cherry Creek. The property sold to an experienced cash buyer who was excited about the opportunity to add to his portfolio. “Our team had a great experience working with the Seller and Buyer in this transaction. With a quick 21 day close, both parties moved efficiently and were able to successfully navigate this transaction,” said Quentin.

Quentin Shore, Associate Advisor, Chris Knowlton, Vice President, and Jim Knowlton, Owner/Principal, represented the Seller in the transaction. Luke Salazar, Senior Advisor, Robert Lawson, Principal, and Jim Knowlton, Owner/Principal, represented the Buyer in the Transaction.

For more information on this sale please contact Quentin Shore at 303-407-9783 or QShore@PinnacleREA.com; Luke Salazar at 303-962-9534 or at LSalazar@Pinnaclerea.com; Chris Knowlton at 303-962-9566 or at CKnowlton@PinnacleREA.com;  Jim Knowlton at 303-962-9543 or JKnowlton@PinnacleREA.com;

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