As we all navigate these unprecedented and challenging times, we want you to know that we are working hard to maintain effective business operations and open channels of communication with all of our clients. Fortunately, we utilize and rely on technology as the backbone of operations for ABI. Our digital systems and virtual communications capabilities have allowed us to seamlessly and efficiently transition to a mostly remote working model. We are operating with our full capabilities and continue to provide the responsive and timely feedback we are known for.
Our team remains fully committed to providing our expertise in brokerage and advisory services, and serving as a resource for all relevant data and information. We will continue to help multifamily stakeholders make sound decisions in real-time, maintain maximum performance of their investment assets, and synthesize immediate, short, and long-term goals throughout this highly unusual time.
Quite simply - WE ARE HERE FOR YOU - in the best of times and the worst of times. Our seasoned advisors have been through it all. In our business, rents and occupancy are the pillars to stability. We are tracking both and can help you stay ahead of the changes in your submarkets.
It is time to think and act fast so reach out to one of our brokers over the phone or email. At the very least, you will enjoy a good conversation during these socially distant moments. We are all in this together. Here’s to strong health and rapid resolutions to the variety of challenges we collectively face. More power to all of you!
- The Team at ABI Multifamily
Desert Pine | 2011 North 51st Street, Phoenix, AZ 85008 | 19 Units | $2,750,000 | $144,737 Per Unit | $202.15 Per SF
FOR IMMEDIATE RELEASE
Company Website: www.ABImultifamily.com
Phoenix, Ariz. – January 24, 2020: ABI Multifamily – the leading multifamily brokerage and advisory services firm in the Western US – is proud to announce the $2,750,000 / $144,737 Per Unit / $202.15 per SF sale of the Desert Pine Apartments in Phoenix, Ariz.
The Desert Pine Apartments transaction consists of 19 garden-style units in the East Phoenix submarket, A prime location near to major freeways and Sky Harbor International Airport. The property is well-situated with ease of access to Downtown Phoenix, Arcadia, Scottsdale, and Tempe.
With 19 units built in 1979, the Desert Pine Apartments presents an attractive value-add opportunity through interior and exterior renovations. The community features new roofing, newer A/C units, on-site laundry and is individually metered for electricity and hot water. The unit mix primarily consists of one-bedroom units with an average size of 716 SF.
ABI Multifamily’s Royce Munroe represented the seller in the transaction.
Regarding the transaction, Munroe said “The Seller purchased Desert Pine Apartments over 15 years ago and it has been a solidly performing asset across its life, particularly given the growth and development that has transformed the area over the years.”
The Buyer and Seller are both Arizona-based private investors.
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.