Boulder Creek Apartments | 915 North 52nd Street, Phoenix, AZ 85008 | 148 Units | $20,100,000 | $135,811 Per Unit | $217.05 Per SF
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com
Phoenix, AZ. (January 10, 2025) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $20,100,000 / $135,811 Per Unit / $217.05 Per SF sale of Boulder Creek Apartments, a 148-unit multifamily apartment community located in Phoenix, Arizona. The sale was facilitated by ABI Multifamily's Phoenix-based Institutional Arizona Team - Alon Shnitzer, Rue Bax, Eddie Chang, Doug Lazovick, and Tyler Bruggman in collaboration with Peter Sherman, Keith O'Donnell, and Mark Seale of Avison Young.
The buyer, MC Companies, is based in Arizona.
Boulder Creek Apartments is a 148-unit multifamily community in the East submarket of Phoenix, AZ within the Papago neighborhood. Situated on the east side of 52nd Street, just south of East McDowell Road and north of East Van Buren Street. The property sits just minutes from Downtown Tempe, Phoenix Sky Harbor International Airport and Downtown Phoenix. Residents enjoy a premium central location with multiple access points to all areas of Phoenix via the Red Mountain Freeway (Loop 202), Piestewa Freeway (State Route 51), Pima Freeway (State Route 101), Hohokam Expressway (State Route 143), and the Papago Freeway (Interstate 10). The neighborhood conveniences and services include Fry’s Food and Drug, Target, Costco Wholesale, CVS, Walgreens, and Walmart Supercenter.
The property rests at the base of the Papago Peak and the Papago Park region of the Valley offering access to recreational activities within walking distance, which include the Phoenix Zoo, Desert Botanical Gardens, and several golf courses.
Developed in 1985, Boulder Creek Apartments features a total of 148 units arranged in nine two-story buildings with wood-frame construction, stucco exterior finishes, and flat roofs situated on approximately 3.79 acres of land. The property features a unit mix of eight studio units, 96 one-bedroom / one-bathroom units and 28 two-bedroom / one-bathroom units, 16 two-bedroom / two-bathroom units with a weighted average of 626 square feet. Each unit is individually metered for electricity and features individual HVAC systems and hot water heaters. Interior amenities include air conditioning / heating, ceiling fans (select units), balcony / patio (select units), and fully equipped kitchens with stainless steel appliance packages (select units). Community amenities include a clubhouse, fitness center, swimming pool, spa, laundry facility, gated entry, and open / covered parking.
Significant employers near the property include the numerous companies located in Midtown and Downtown Phoenix as well as Arizona State University, The Phoenician Resort, Shamrock Foods Company, and Phoenix Sky Harbor International Airport.
ABI Multifamily (https://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Las Vegas, San Diego, and Tucson, 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.