Vintage Tempe | 1700 South College Avenue, Tempe, AZ 85281 | 30 Units | $5,925,000 | $197,500 Per Unit | $266.89 Per SF
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com
Phoenix, AZ. (August 6, 2021) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $5,925,000 / $197,500 Per Unit / $266.89 Per SF sale of Vintage Tempe, a 30-unit multifamily apartment property located in Tempe, Arizona.
Originally developed in 1960 and completely rehabbed in 2017-2018, Vintage Tempe is located blocks from the Arizona State University Tempe campus and features floor plans ideally suited for college students and those working in the area. Large one- and two-bedroom floor plans feature well-appointed kitchens and bathrooms, walk-in closets, and stackable washer / dryers in select units. Common area amenities include resort-style swimming pool, resident fitness center, postal center, and two pet areas.
Vintage Tempe is surrounded by bicycle paths and as one of the few multifamily communities in the University Estates, the property offers affordable access to one of the most sought-after residential areas in Tempe. Residents will be able to enjoy year-round hiking, biking, world-class golf, and some the Valley's best restaurants and shopping opportunities. Numerous high-end restaurants and retailers are located in Downtown Tempe’s Mill Avenue, Tempe Marketplace, and area surrounding Arizona State University.
ABI Multifamily's Michael Burke and Rue Bax represented the buyer and seller in this transaction.
The buyer is based in Canada. 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.