Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of the Gertrude Apartments at 2545 Champa Street in Denver, CO. Located in the Five Points neighborhood, the 10-unit apartment building sold for $1,469,072, or $267 per square foot. Erik Toll represented the Buyers in the transaction.
“The property certainly posed its challenges: it held two historical designations, had been under the same management for forty years, was 60% vacant, and was in a latent state of disrepair,” stated Toll. “This, coupled with the rarity of multifamily assets in Curtis Park, rendered it into an incredible value-add opportunity. Five Points commands some of the highest rents in Denver and true value-add projects are all but extinct in Central Denver. My team is very excited to have been a part of the transaction and are confident our client will thrive here.”
For more information, please contact Erik Toll at 720-638-5401 TAG@PinnacleREA.com
