3526 East Montecito Avenue | 3526 East Montecito Avenue, Phoenix, AZ 85018 | 8 Units | $2,272,500 | $284,063 Per Unit | $355.08 Per SF
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com
Phoenix, AZ. (April 19, 2023) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $2,272,500 / $284,063 Per Unit / $355.08 Per SF sale of 3526 East Montecito Avenue, an 8-unit multifamily apartment community located in Phoenix, Arizona. The Buyer and Seller were represented by ABI Multifamily's Mitchell Drake, Dallin Hammond, and Carson Griesemer.
The buyer is based in California and the seller is based in Arizona.
3526 East Montecito Avenue, is an 8-unit apartment community located in Phoenix, AZ. The property is situated within the Arcadia Lite District, specifically, in the highly sought-after 85018 zip code. 3526 East Montecito Avenue was originally built in 1958, renovated in 2018 and is of block construction. This garden-style property has a solid unit mix that features (8) spacious 2 bedroom / 1 bathroom apartments. The most recent capital expenditures at the property include: A full interior renovation that includes stainless steel appliances, white shaker cabinets, backsplash, countertops and more. The exterior has been renovated and features: vibrant desert landscaping, the installation of private front patios and private backyards. Each unit has a full-sized stackable washer and dryer and the property is individually metered for electricity. Given the location of this rarely available apartment community, there is room for investors to maximize rental increase potential.
The property is minutes from all of the shopping, dining, and entertainment options that Arcadia has to offer including La Grande Orange, The Porch, and The Vig. The property is virtually equal distances to Camelback Mountain’s hiking trails, the historic Biltmore Golf Club, and the heart of Downtown Phoenix. In addition to the attractions in the immediate area, 3526 East Montecito Avenue offers immediate access to the 51-Freeway allowing residents easy access to all that the valley has to offer.
ABI Multifamily (https://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Las Vegas, San Diego, and Tucson, 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.