Fernwood Court Apartments | 15430 North 25th Street, Phoenix, AZ 85032 | 32 Units | $6,150,000 | $192,188 Per Unit | $173.14 Per SF
FOR IMMEDIATE RELEASE
Company Website: www.ABImultifamily.com
Phoenix, AZ (April 29, 2020) - ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western U.S., is proud to announce the $6,150,000 / $192,188 per Unit / $173.14 per SF sale of Fernwood Court Apartments, a 32-unit property in Phoenix.
Built in 2010, Fernwood Court consists of 32 three-bedroom / two-bathroom units averaging over 1,100 SF. The community is a condo-mapped (individually parceled), complete project, luxury gated community. Each unit contains fully equipped kitchens with an in-unit full-size washer and dryer. In addition, with each unit comes a detached reserved two-car garage, as well as a private balcony for all second level units or a large backyard patio for units on the ground floor.
The community is located near numerous hiking trails as part of the Phoenix Mountains Preserve recreation area, easy access to AZ-51, and a short drive to one of the most popular shopping centers in the Phoenix Metro, Desert Ridge Marketplace.
“This was an exciting opportunity to purchase a gated property that’s of a newer construction, consists of all three-bedroom units, in addition to being a condo-mapped community in North Phoenix,” Shnitzer said. “Newer small to medium properties that have these characteristics, especially the unit mix and parceling, are a rare find in the Phoenix multifamily market."
Doug Lazovick adds, “Given the current economic and logistical challenges, all parties had to go the extra mile to ensure a successful closing. This may have been just one transaction, but a wealth of experience was gained by everyone involved.”
ABI Multifamily’s Alon Shnitzer, Doug Lazovick, Eddie Chang, John Kobierowski, and Rue Bax represented the buyer and seller.
The buyer is a California-based private investor. The seller is an Arizona-based private investment firm.
ABI Multifamily (http://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.