ABI Multifamily Co-Brokers Sale of Central/East Phoenix Community, Pecan Tree Apartments, for $1.265M
FOR IMMEDIATE RELEASE
ABI Multifamily – Phoenix Office
Company Website: www.ABImultifamily.com
Phoenix, AZ – June 18, 2015 – ABI Multifamily Co-Brokers Sale of Central/East Phoenix Community, Pecan Tree Apartments, for $1.265M
ABI Multifamily, a dedicated multifamily brokerage and advisory services firm, is pleased to announce the sale of a well located Central Phoenix, 26-unit, apartment community – Pecan Tree Apartments – for $1,265,000 or $48,654 Per Unit.
Originally built in 1983, Pecan Tree Apartments, is comprised of contiguous buildings that are constructed of brick with composition shingle roofing. Over the last several years, the property has undergone many interior and exterior upgrades.
“This is a great central Phoenix location with easy access to the 202 and 51 freeways,” states Terry Kass, Senior Vice President at ABI.” “The entire area has seen significant repositioning of other apartment communities, in addition, there are newly constructed single family homes next door to Pecan Tree and vibrant commercial properties to the South along Thomas Road. With easy access to jobs, higher education schools, quality healthcare and shopping, the property is uniquely positioned for continued high demand.”
Pecan Tree Apartment Sale Highlights:
• Well maintained and partially rehabbed apartment community
• Attractive Unit Mix Consisting of One and Two Bedroom Unit Types
• All Units Come with covered parking
• Value-Add Opportunity through further renovations
• Close to heavily trafficked transportation/employment corridors
The Buyer was seasoned investor with numerous properties in the Phoenix Area.
The Seller was a private investor from California.
The Phoenix-based ABI Multifamily Mid/Small Apartment Group of Terry Kass, Mark Skelpsa, John Klocek and Patrick Burch represented the buyer in the transaction.
Rocky Banovac of Pac West Properties represented the seller.
ABI Multifamily is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. The experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.