Casa Monte Vista | 120 West Dobbins Road, Phoenix, AZ 85041 | 45 Units | $5,995,000 | $133,222 Per Unit | $164.61 Per SF
FOR IMMEDIATE RELEASE
Company Website: www.ABImultifamily.com
Phoenix, AZ. (June 29, 2021) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $5,995,000 / $133,222 Per Unit / $164.61 Per SF sale of Casa Monte Vista, a 45-unit multifamily apartment property located in Phoenix, Arizona.
Casa Monte Vista is a 45-unit apartment community located in South Phoenix. Built in 1985, the property consists of 3 two-story buildings constructed of wood frame, stucco, and pitched shingle roofing on a 1.66-acre site.
The unit mix consists of 44 two-bed / one-bath units and 1 one-bed / one-bath unit. The property is individually metered for electricity, hot water, air conditioning, and heat. The community features a community pool, BBQ grill, on-site laundry facility, and covered parking.
Casa Monte Vista is located in the South Phoenix submarket. The area features the South Mountain Park and Preserve that contains numerous scenic hiking trails. Situated nearby to the property is one of Phoenix’s elite golf courses, the Legacy Golf Resort, South Mountain Community College and numerous retail and dining options.
Mitchell Drake, Vice President at ABI, states, “Casa Monte Vista is a great value-add opportunity especially considering the fact that the building was built in 1985 and is primed for a value-add reposition. With a strong unit mix of all two-bed / one-bath units with the exception of 1 one-bed / one-bath unit, the buyer will be able to capture the tremendous upside in the property with the addition of minor cosmetic upgrades including the addition of in-unit washers and dryers.”
ABI Multifamily's Mitchell Drake, Dallin Hammond, and Carson Griesemer represented the buyer and seller in this transaction.
The buyer is based in California and the seller is based in Arizona.
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.