As we all navigate these unprecedented and challenging times, we want you to know that we are working hard to maintain effective business operations and open channels of communication with all of our clients. Fortunately, we utilize and rely on technology as the backbone of operations for ABI. Our digital systems and virtual communications capabilities have allowed us to seamlessly and efficiently transition to a mostly remote working model. We are operating with our full capabilities and continue to provide the responsive and timely feedback we are known for.
Our team remains fully committed to providing our expertise in brokerage and advisory services, and serving as a resource for all relevant data and information. We will continue to help multifamily stakeholders make sound decisions in real-time, maintain maximum performance of their investment assets, and synthesize immediate, short, and long-term goals throughout this highly unusual time.
Quite simply - WE ARE HERE FOR YOU - in the best of times and the worst of times. Our seasoned advisors have been through it all. In our business, rents and occupancy are the pillars to stability. We are tracking both and can help you stay ahead of the changes in your submarkets.
It is time to think and act fast so reach out to one of our brokers over the phone or email. At the very least, you will enjoy a good conversation during these socially distant moments. We are all in this together. Here’s to strong health and rapid resolutions to the variety of challenges we collectively face. More power to all of you!
- The Team at ABI Multifamily
The Vue on Camelback | 4802 North 15th Avenue, Phoenix, AZ 85014 | 93 Units | Built in 1974, Renovated 2017/18 | $9,500,000 | $102,151 Per Unit | $162.42 Per SF
FOR IMMEDIATE RELEASE
Company Website: www.ABImultifamily.com
Phoenix, AZ – July 13, 2018 – ABI Multifamily, the Western US’s leading multifamily brokerage and advisory services firm, is pleased to announce the $9,500,000 / $102,151 Per Unit sale of The Vue on Camelback located in Phoenix, Arizona. Originally built in 1974 and intensely renovated in 2017/18, The Vue on Camelback is a two story, garden-style apartment community that features 93 total units in 6 rental buildings constructed of wood frame and stucco. The property has flat roofs and rests on approximately 2.62-acres. The unit mix consists of 48 one-bedroom / one-bathroom units measuring approximately 530 square feet, 44 two-bedroom / one-bathroom units measuring approximately 730, and 1 two-bedroom / one-bath unit measuring approximately 930 square feet, with a weighted average size of 629 square feet. Electricity, gas, and water are all mastered metered and reimbursed by tenants through a flat rate. Hot water for the property is provided by master boilers and HVAC is individual roof-mounted. Units feature air conditioning / heating, ceiling fans, outside storage, patio / balcony, and kitchens equipped with dishwasher, range / oven, and refrigerator. The community also provides its residents with a swimming pool, clubhouse, and laundry facility.
"The Vue on Camelback is centrally located along the Camelback corridor near Grand Canyon University and Christown Spectrum Mall and walking distance to the light rail," states Alon Shnitzer, Senior Managing Partner at ABI, along with Rue Bax, Senior Managing Partner, who represented both the buyer and the seller in the transaction. "The property was acquired by the selling entity 2015 and went through an intensive renovation inside and out. They brought the property back to life with the beautiful renovations and modern touches," states Rue Bax.
The buyer is a private investor with offices in Phoenix, AZ and Canada.
The seller is a private investment partnership based in Phoenix, AZ.
The multifamily brokerage team of Rue Bax, Alon Shnitzer, John Kobierowski, Doug Lazovick and Eddie Chang represented both the buyer and seller in this transaction.
ABI Multifamily 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.