Desert Crown Apartments | 1518 West Colter Street, Phoenix, AZ 85015 | 35 Units | Built in 1963 | Recently Renovated | $3,935,000 | $112,429 Per Unit | $126.18 Per SFPRESS RELEASE
FOR IMMEDIATE RELEASE
Company Website: www.ABIMultifamily.com
ABI Multifamily Brokers $4.35M Apartment Sale in Arcadia-Lite Neighborhood
Phoenix, AZ – May 3, 2018 – ABI Multifamily, the Western US's leading multifamily brokerage and advisory services firm, is pleased to announce the $3,935,000 / $112,429 Per Unit sale of Desert Crown Apartments, a 35-unit apartment community located in Phoenix, Arizona.
The property is a single-story apartment community, built of solid block construction and comprised of nine separate buildings built in 1963 and has recently undergone extensive remodeling and upgrades. The property features all 2-bed / 1-bath units with an average size of 891 square feet. Each unit is individually metered for electricity and also has washer / dryer hook-ups. Many units also have private, fenced yards.
"Given The DC's central Phoenix location, its current level of renovations, and clear path on how to continue the value-add model, this was an attractive offering and the buyer is excited to pick up where the seller left off. This was a real win-win for both buyer and seller," states John Klocek, Vice President at ABI who represented the Seller.
The Seller was a private investor based in Arizona.
The Buyer was a private investor based in Arizona.
The Phoenix based ABI Multifamily brokerage team of John Klocek, Patrick Burch, Ryan Smith, Royce Munroe, and Nathan Bruer represented the Seller in this transaction.
ABI Multifamily (http://www.abimultifamily.com) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. 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.