PRESS RELEASEFOR IMMEDIATE RELEASE
Company Website: www.ABImultifamily.com
ABI Broker's Apartment Sale in Investor Hotspot of East Phoenix, Arcadia Submarket
Phoenix, AZ – August 21, 2017 – ABI Multifamily, the Western US's leading multifamily brokerage and advisory services firm, is pleased to announce the $1,484,000 / $106,000 Per Unit sale of the Sir John's Apartments, a 14-unit apartment community located in Phoenix, Arizona. The property is a one-story apartment community, built of block construction in 1967 and rests on 0.88 acres. The property features all (14) 2-bedroom units with an average size of 850 square feet. Each unit is individually metered for electricity and features its own enclosed backyard.
Ryan Smith, Vice President at ABI, who represented the Seller and Buyer in the transaction, states, "The Buyer saw opportunity in both implementing a value add strategy, as well as, the property's Arcadia submarket location. The Buyer intends to reposition the property to compete with the on-going demand for more affordable B class housing."
The Seller was a private investor based in Colorado.
The Buyer was a private investor based in Arizona.
The Phoenix based ABI Multifamily brokerage team of Ryan Smith, John Klocek, Patrick Burch, Royce Munroe and Nathan Bruer represented the Buyer/Seller in this transaction.
ABI Multifamily is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. 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.