70th Street Lofts | 3425 North 70th Street, Scottsdale, AZ 85251 | 15 Units (Entitled) | $1,375,000 | $91,667 Per Platted Unit | $71.97 Per Lot SF
FOR IMMEDIATE RELEASE
Company Website: www.ABImultifamily.com
Scottsdale, AZ – November 27, 2018 – ABI Multifamily, the Western US’s leading multifamily brokerage and advisory services firm, is pleased to announce the $1,375,000 / $91,667 Per Unit sale of 70th Streets Lofts located in Scottsdale, Arizona. This rare site in Downtown Scottsdale Opportunity Zone is a 15-unit luxury condo development opportunity with full entitlements and designed to be built with net-zero electric energy costs. The site is approximately 0.44-acres and is planned to have all two-bed / two and a half bath units averaging 1,474 square feet. The location sits in the heart of the Downtown / Old Town Scottsdale submarket that is walking distance from Scottsdale Spring Training and The Civic Center Plaza as well as a short trolley ride to Scottsdale Fashion Square and Scottsdale Entertainment District.
“The sellers designed a beautiful project in the heart of Old Town Scottsdale’s booming urban residential expansion. The purchaser will have pride of ownership for years to come.” states Eddie Chang, Partner and co-lead broker on the sale.
The buyer is an Arizona-based investor.
The seller is an Arizona-based development group.
The multifamily brokerage team of Patrick Burch, Eddie Chang and John Klocek represented the seller in this transaction.
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.