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As we all navigate these unprecedented and challenging times, we want you to know that we are working hard to maintain effective business operations and open channels of communication with all of our clients. Fortunately, we utilize and rely on technology as the backbone of operations for ABI. Our digital systems and virtual communications capabilities have allowed us to seamlessly and efficiently transition to a mostly remote working model. We are operating with our full capabilities and continue to provide the responsive and timely feedback we are known for.

Our team remains fully committed to providing our expertise in brokerage and advisory services, and serving as a resource for all relevant data and information. We will continue to help multifamily stakeholders make sound decisions in real-time, maintain maximum performance of their investment assets, and synthesize immediate, short, and long-term goals throughout this highly unusual time.

Quite simply - WE ARE HERE FOR YOU - in the best of times and the worst of times. Our seasoned advisors have been through it all. In our business, rents and occupancy are the pillars to stability. We are tracking both and can help you stay ahead of the changes in your submarkets.

It is time to think and act fast so reach out to one of our brokers over the phone or email. At the very least, you will enjoy a good conversation during these socially distant moments. We are all in this together. Here’s to strong health and rapid resolutions to the variety of challenges we collectively face. More power to all of you!

- The Team at ABI Multifamily

Press Release | North Central Phoenix Apartment Community Trades for $2.187M

7th Street Corridor, ABI Press Releases, Arizona, Los Jardines Apartments, multifamily investment sale, North Central Phoenix, Phoenix Metro, Royce Munroe

Los Jardines | 837 East Montecito Avenue, Phoenix, AZ 85014 | 28 Units | Built in 1981 | $2,187,500 | $78,125 Per Unit | $110.49 Per SF Los Jardines | 837 East Montecito Avenue, Phoenix, AZ 85014 | 28 Units | Built in 1981 | $2,187,500 | $78,125 Per Unit | $110.49 Per SF

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North Central Phoenix Apartment Community Trades for $2.187M

Phoenix, AZ – September 1, 2017 – ABI Multifamily, the Western US's leading multifamily brokerage and advisory services firm, is pleased to announce the $2,187,500 / $78,125 Per Unit sale of the Los Jardines Apartments, a 28-unit apartment community located in Phoenix, Arizona. The property is a two-story apartment community, built of solid block construction in 1981 and rests on 0.90 acres. The property features (12) 1-bedroom and (16) 2-bedroom/2-bath units with an average size of 753 square feet with each unit individually metered for electricity.

"The property is located just a couple blocks from Steele Park and is literally minutes from all the major job and development projects occurring in Midtown and farther north along 7th and 16th Streets," states Royce Munroe, Vice President at ABI who represented the Buyer. "The Buyer saw a great opportunity to purchase a rehabbed project with substantial upside in rents and in an area where there is significant demand."

The Seller was a private investor based in Arizona.

The Buyer was a private investor based in California.

The Phoenix based ABI Multifamily brokerage team of Royce Munroe, Ryan Smith, John Klocek, Patrick Burch and Nathan Bruer represented the Buyer in this transaction.

ABI Multifamily 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.