Maryland Manor Townhomes | 4608 West Maryland Avenue, Glendale, AZ 85301 | 50 Units | $10,500,000 | $210,000 Per Unit | $163.57 Per SF
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com
Phoenix, AZ (December 21, 2020) - ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western U.S., is proud to announce the $10,500,000 / $210,000 per Unit / $163.57 per SF sale of the Maryland Manor Townhomes, a 50-unit property in Glendale, AZ.
Built in 2008-2012, Maryland Manor Townhomes consists of 50 large townhome units. The majority of the units are 2 & 3-bedroom / 2.5-bathroom units with 2-car garages, in-suite laundry, and private balconies. The townhome community is located in a quiet Glendale neighborhood where rents are on the rise.
Maryland Manor Townhomes is positioned in a prime South Glendale location less than 3 miles from Grand Canyon University and light rail stops. The townhome community is also located 7.5 miles away from Westgate Entertainment District, State Farm Stadium, and Gila River Arena that hosts a plethora of shopping, dining, and entertainment options.
John Klocek, Vice President at ABI, states, "Maryland Manor is a hidden gem of newer product in an established and quiet neighborhood. Given the lack of inventory for this kind of product, the property is very appealing to the buyer, as well as to its tenants. Although bittersweet for the seller to part with this great property, both buyer and seller were happy to complete this ‘win-win’ transaction. This submarket is seeing tremendous rent growth, and as a result, Maryland Manor is poised to be a great property for the new owner."
ABI Multifamily’s John Klocek and Patrick Burch represented both the Buyer and Seller.
The buyer is a California-based private investor. The seller is an Arizona-based private investor.
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.