Desert Point Apartments | 6405 West McDowell Road, Phoenix, AZ 85035 | 280 Units | $47,750,000 | $170,536 Per Unit | $264.42 Per SF
FOR IMMEDIATE RELEASE
Company Website: www.ABImultifamily.com
Phoenix, AZ. (May 26, 2021) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $47,750,000 / $170,536 Per Unit / $264.42 Per SF sale of Desert Point Apartments, a 280-unit multifamily apartment property located in Phoenix, Arizona.
Desert Point is a 280-unit, fully gated garden-style apartment community in the west submarket of Phoenix, Arizona. Built in 2006, the property consists of 18 rental buildings constructed of wood frame, stucco, and pitched composition shingle roofs resting on approximately 7.77-acres.
The unit mix consists of 72 one-bed / one-bath units and 208 two-bed / two-bath units with a weighted average of 645 square feet. The property is individually metered for electricity. All units include washer/dryer appliances, air conditioning/heating, vaulted ceilings, additional storage, and kitchens equipped with refrigerator, microwave, dishwasher, and garbage disposal. Common area amenities include: Dedicated rental office, fitness center, pool / spa, playground, barbecue grills / picnic area, lush landscaping, gated-entry, and covered / open parking.
The property is situated just miles from the Westgate Sports and Entertainment District and is in close proximity to a multitude of major transportation corridors such as: The Papago Freeway (Interstate-10), Agua Fria Freeway (Loop 101), Grand Avenue (Highway 60), and the recently constructed extension of the South Mountain Freeway (Loop 202).
ABI Multifamily's Phoenix-based Institutional Apartment Group – Alon Shnitzer, Rue Bax, Eddie Chang, and Doug Lazovick represented the buyer and seller in this transaction.
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.