The Westfall | 316 - 318 South Westfall Avenue, Tempe, AZ 85281 | 8 Units | $2,000,000 | $250,000 Per Unit | $362.32 Per SF
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com
Phoenix, AZ. (January 4, 2022) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $2,000,000 / $250,000 Per Unit / $362.32 Per SF sale of The Westfall, a 8-unit multifamily apartment community located in Tempe, Arizona. ABI Multifamily's Dallin Hammond, Mitchell Drake, and Carson Griesemer represented the buyer & seller in this transaction.
The Westfall was originally built in 1969 of block construction and recently underwent extensive interior & exterior renovations which were completed in 2020. The Westfall is truly a turnkey asset with no expense spared during the rehab. The property features 100% 2-bedroom/1-bathroom units and recent updates include modern interior finishes with brand-new faux wood flooring, white shaker-style cabinets, stainless-steel appliances, quartz countertops, backsplash, ceiling fans, and more. All of the units have a spacious feel with vaulted ceilings and feature in-suite washers and dryers. Each tenant also enjoys covered parking and individually assigned storage units.
The Westfall is located in the heart of Tempe, just south of Tempe Town Lake and situated amongst new multifamily construction and many other similarly renovated properties. Residents enjoy the close proximity to the iconic Mill Avenue Corridor, which offers many dining, shopping and entertainment options. Tempe is no longer a one-dimensional college town, with massive amounts of corporate development taking place throughout Tempe, anchored by the 2-million-square-foot State Farm Campus, the city has rapidly transformed into a place sought after by more than just students.
The buyer is based in Arizona and the seller is based in California.
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.