V on Broadway Apartments | 1890 South Country Club Way, Tempe, AZ 85281 | 90 Units | Built 2021 | $21,600,000 | $240,000 Per Unit | $233.79 Per SF
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com
Phoenix, AZ. (December 29, 2025) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $21,600,000 / $240,000 Per Unit / $233.79 Per SF sale of V on Broadway Apartments, a 90-unit multifamily apartment community located in Tempe, Arizona. ABI Multifamily's Phoenix-based Institutional Arizona Team - Alon Shnitzer, Rue Bax, Eddie Chang, Doug Lazovick, and Tyler Bruggman facilitated the transaction.
The Seller is based in Arizona.
The Buyer is CVG Properties, a Scottsdale based private real estate investor, owner, and operator with assets in Arizona, California, Utah, and Texas. The purchase of the V on Broadway expands CVG’s Arizona multifamily footprint and advances its objective of identifying and acquiring high quality, well located multifamily communities with market and operational upside and strong risk adjusted returns for its investors.
Situated on the north side of Broadway Road and just east of State Route 101 in the North Tempe Submarket, V on Broadway Apartments is a 90-unit, midrise apartment community consisting of a single four-story building on a 3.59-acre lot. The property is within and a short drive from Arizona State University’s Tempe campus and Phoenix Sky Harbor International Airport along with multiple access points to all areas of Phoenix by way of the Price Freeway (SR-101), Red Mountain Freeway (Loop 202), and Superstition Freeway (US-60). Immediate neighborhood conveniences and services include Sprouts Farmers Market, ALDI, Goodwill, Chase Bank, CVS, and a UPS Store.
The property is surrounded by multiple dining, entertainment, and shopping hubs, including Tempe Marketplace, one of the Valley’s most premier combination lifestyle and power centers with over 100 shops and restaurants approximating 1.3 million square feet of retail space, including Target, Best Buy, JCPenney, Barnes & Noble, H&M, Dave & Buster’s, and Harkins Movie Theater. Additionally, the Mill Avenue entertainment district in Downtown Tempe, Scottsdale Fashion Square Mall, Chandler Fashion Square Mall, and the multitude of event venues and dining options in Downtown Phoenix are all within an approximate 15-minute drive from the property.
Developed in 2021 from a combination of wood frame / masonry construction and flat roofing, the property features a unit mix of 50 one-bedroom / one-bathroom units, 36 two-bedroom / two-bathroom units, and four three-bedroom / two-bathroom units with a weighted average of 1,027 square feet. Each unit is individually metered for electricity and features individual HVAC’s and hot water heaters. Interior amenities include air conditioning and heating, in-unit washer and dryer, granite countertops, patios and balconies, vinyl wood flooring, ceiling fans, walk-in closets, extra storage, and high-speed internet access. Kitchens are fully equipped with stainless steel appliances, including refrigerator, microwave, oven / stove, and dishwasher. Community amenities include swimming pool and spa, clubhouse, fitness center, controlled access, elevator / stairwell access, and open and covered parking.
Significant area employers include State Farm Insurance, City of Tempe, Salt River Project, Chase Bank, and Arizona State University.
ABI Multifamily (https://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Las Vegas, San Diego, and Tucson, 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.