Sandpainter Apartments | 2225 West Indian School Road, Phoenix, AZ 85015 | 116 Units | $27,260,000 | $235,000 Per Unit | $405.78 Per SF
FOR IMMEDIATE RELEASE
Company Website: www.ABImultifamily.com
Phoenix, AZ. (April 19, 2022) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $27,260,000 / $235,000 Per Unit / $405.78 Per SF sale of Sandpainter Apartments, a 116-unit multifamily apartment community located in Phoenix, Arizona. 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.
The buyer and seller are based in Arizona.
Sandpainter Apartments is a 116-unit apartment community in west Phoenix, AZ. Situated on West Indian School Road, the property sits less than six miles from the Biltmore area and approximately four miles north of Downtown Phoenix. Residents enjoy a premium, central location with direct access to all areas of Phoenix by way of the Interstate-17, Interstate-10, and State Route 51.
An abundance of dining and entertainment options are just a short drive away at Uptown Plaza at the intersection of Camelback Road and Central Avenue where residents have ready access to desirable destinations such as: Postino’s, The Windsor, Federal Pizza, Joyride Taco House, Shake Shack, Lou Malnati’s Pizzeria, and Flower Child, among many more. The nearby 7th Street Restaurant Corridor also offers iconic dining options such as: Culinary Dropout, Bevvy Uptown, Pita Jungle, and Spinato’s Pizzeria.
The 116 units are arranged in 8 two-story buildings with wood frame construction, stucco exterior finishes, and pitched composite shingle roofs situated on approximately 5.88 acres of land. Community amenities include: Swimming pool, laundry facility, clubhouse / dedicated rental office, barbeque grills, picnic area, and open / covered parking.
The property consists of (24) studio units, (64) one-bedroom / one-bathroom units, (20) two-bedroom / one-bathroom, and (8) two-bedroom / two-bathroom units, averaging 579 square feet. Each unit is individually metered for electricity and contains a water heater for domestic hot water. Heating and cooling is supplied by individual ground / wall-mounted HVAC’s. Interior amenities include (select units): Air conditioning / heating, walk-in closets, ceiling fans, vinyl wood flooring, balconies, and kitchen fully-equipped with refrigerator, oven / stove, and dishwasher.
Significant employers in close proximity to the property include the numerous companies located in Midtown, Downtown, and the Camelback Corridor, as well as Banner Health, St. Joseph’s Hospital, U-Haul International, Wells Fargo, JP Morgan Chase, and Phoenix Children’s Hospital.
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.