Olive Gardens | 3432 North 12th Place, Phoenix, AZ 85014 | 30 Units | $6,650,000 | $221,667 Per Unit | $273.61 Per SF
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com
Phoenix, AZ. (August 2, 2022) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $6,650,000 / $221,667 Per Unit / $273.61 Per SF sale of Olive Gardens, a 30-unit multifamily apartment community located in Phoenix, Arizona. ABI Multifamily's Mitchell Drake, Dallin Hammond, and Carson Griesemer represented the buyer in this transaction.
The buyer is based in Arizona and the seller is based in Canada.
Built in 1970, Olive Gardens is a 30-unit garden-style apartment community, resting on a .88-acre site. The property consists of 6 rental buildings constructed of block construction and features a mix of 2 one-bedroom / one-bath units, 24 two-bedroom / one-bath units, and 4 two-bedroom / one-and-one-half-bath units. Residents are sure to enjoy the amenities the property has to offer, including private patios, ample covered parking, a community swimming pool, and common area.
Olive Gardens is located within the North Central Phoenix submarket between the I-17 and less than two miles from the SR-51 freeway. The property sits just a few miles from the Biltmore area, four miles north of Downtown Phoenix, and has easy access to all the dining, entertainment, and employment opportunities of both Uptown and Midtown Phoenix. Olive Gardens is situated in a location that allows residents to achieve the ideal work-life balance.
ABI Multifamily (https://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Tucson, San Diego, and Las Vegas, 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.