Palm Square | 4811 - 4815 North 15th Avenue, Phoenix, AZ 85015 | 18 Units | $2,400,000 | $133,333 Per Unit | $207.54 Per SF
FOR IMMEDIATE RELEASE
Company Website: www.ABImultifamily.com
Phoenix, AZ. (August 4, 2021) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $2,400,000 / $133,333 Per Unit / $207.54 Per SF sale of Palm Square, an 18-unit multifamily apartment property located in Phoenix, Arizona.
Built in 1958, Palm Square is an 18-unit garden-style community comprised of (6) studios, (10) one-bed / one-bath units, (1) two-bed / one-bath unit, and (1) two-bed / one and a half bath unit. The property has been partially renovated and upgraded unit amenities include newer appliances, cabinets, flooring, and interior paint. Community amenities include a spacious courtyard with desert landscaping and ample covered parking for residents.
Palm Square is located in an excellent Central Phoenix location just north of Camelback Road and neighbors numerous dining, shopping, and entertainment options. Some local area amenities include Uptown Plaza, AJ’s Fine Foods, Restaurant Row, and Flower Child. The property has easy access to the 7th Avenue and Camelback Road light rail station and is only a short drive to the I-17 Freeway. Based on the popularity of the area and the booming redevelopment efforts in the 85015 zip code, this property is the perfect opportunity to create an ideal living situation in Central Phoenix.
Dallin Hammond, Vice President at ABI, states, "I love this opportunity for the buyer. Palm Square had a ton of heavy lifting completed, including new asphalt, roof, A/C's, and landscaping, as well as a handful of units being renovated with modern fixtures. By continuing with renovations, the buyer will be able to take advantage of this growing Central Phoenix location.”
ABI Multifamily's Dallin Hammond, Mitchell Drake, and Carson Griesemer represented the buyer and sellers in this transaction.
The buyer is based in Arizona and the sellers are based in California.
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, 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.