The Stills | 2336 – 2342 North 46th Street, Phoenix, AZ 85008 ; 2520 North 46th Street, Phoenix, AZ 85008 | 12 Units | $2,610,000 | $217,500 Per Unit | $237.90 Per SF
FOR IMMEDIATE RELEASE
Company Website: www.ABImultifamily.com
Phoenix, AZ (September 30, 2020): ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western U.S., is proud to announce the $2,610,000 / $217,500 per Unit / $237.90 per SF sale of The Stills, a 12-unit property in Phoenix.
Built in 1964 and renovated in 2018/2019, The Stills consists of 12 very large units featuring an attractive unit mix of 9 two-bedroom / two-bathroom units and 3 one-bedroom / one-bathroom units. All units have been completely remodeled top-to-bottom with interior amenities such as quartz countertops and stainless-steel appliances. In addition, each unit contains a washer & dryer and has had electrical and plumbing upgrades.
The apartment community is located near the popular lower Arcadia submarket. This location is extremely desired because it is centered around all the major entertainment districts in the area. The Stills is less than ten minutes from The Biltmore and the 24th Street & Camelback corridor, Downtown Phoenix, Downtown Tempe, and Old Town Scottsdale. The location also features a popular Costco and big-box retailers next door, easy access to the 202 Loop, and a short drive to Phoenix Sky Harbor International Airport.
John Klocek, Vice President at ABI Multifamily, said, "The Buyer was a 1031 cash buyer from California looking for a fully renovated turn-key property in a great area. Given the excellent South Arcadia location, and the superior remodel completed by the Seller, The Stills property was an excellent fit for the Buyer. This street has seen a major re-gentrification over the last few years and The Stills is just the latest example of continuous improvement in this submarket."
ABI Multifamily’s John Klocek and Patrick Burch represented the seller.
The buyer is a California-based private investment firm. The seller is an Arizona-based private investor.
ABI Multifamily (http://www.abimultifamily.com/) 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.