Press Release | ABI Multifamily Brokers 10-Unit Multifamily Apartment Property for $2,525,000

Phoenix AZ, Multifamily, Apartments, Investment Sales, Dallin Hammond, Carson Griesemer, Mitchell Drake, Monte Vista Apartments

Monte Vista Apartments | 3208 North 37th Street, Phoenix, AZ 85018 | 10 Units | $2,525,000 | $252,500 Per Unit | $291.91 Per SF


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ABI Multifamily Brokers 10-Unit Multifamily Apartment Property for $2,525,000

Phoenix, AZ. (March 12, 2021) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $2,525,000 / $252,500 Per Unit / $291.91 Per SF sale of Modern Ridge Apartments, a 10-unit multifamily apartment property located in Phoenix, Arizona.

Built in 1970 and fully renovated in 2021, Modern Ridge Apartments is a garden-style community situated near the Arcadia Lite District in the highly sought-after 85018 zip code. The property consists of (7) two-bedroom / one-bathroom units and (3) three-bedroom / two-bathroom units. All units are individually metered for electricity and feature brand-new stainless-steel appliances, kitchen islands, electrical, plumbing, in-suite washers and dryers, and an additional bedroom and bathroom have been added to three of the units. Community amenities include ample covered parking, private back patios, dog run, and a shaded cabana / common area.

Modern Ridge Apartments is located just minutes from Biltmore Fashion Park and within a bike's ride distance to many boutique eateries which include La Grande Orange Restaurant and The Porch. The property is also just minutes to Camelback Mountain's hiking trails, the historic Biltmore Golf Club, and the heart of Downtown Phoenix.

ABI Multifamily's Mitchell Drake, Dallin Hammond, and Carson Griesemer represented the buyer and seller in this transaction.

The buyer is based in California and the seller is based in Arizona.

ABI Multifamily ( is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Tucson, Sacramento, and San Diego, 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.