Mountain View | 9633 North 17th Avenue, Phoenix, AZ 85021 | 26 Units | $2,730,000 | $105,000 Per Unit | $147.57 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 $2,730,000 / $105,000 per Unit / $147.57 per SF sale of Mountain View Apartments, a 26-unit property in Phoenix.
Mountain View Apartments presents a value-add opportunity through interior & exterior renovations. Built in 1983, the property consists of 26 garden-style units with a unit mix of (10) spacious one-bedroom / one-bathroom and (16) two-bedroom / one-bathroom units. All units are individually metered for electricity and include fully appointed kitchens with full-size electric appliances, ceramic tile flooring, and ceiling fans. The property’s community amenities feature a large swimming pool, an on-site laundry facility, and secured parking access gates.
Mountain View Apartments resides in Northwest Phoenix, conveniently located just blocks from the Black Canyon Freeway and the metro light rail station at Dunlap & 19th Avenue. The property is also located near Grand Canyon University and the vibrant Christown Spectrum Mall that hosts numerous shopping, dining, and entertainment options.
Mitchell Drake, Vice President at ABI, states, "This transaction was fun from start to finish. The Seller had given our team 24 hours to find a Buyer before he listed the property the following day. Thankfully, our team was able to act quickly and put the right Buyer in a deal that needed a lift from all angles."
Drake added, "The new owners of Mountain View Apartments plan to do a complete remodel through interior and exterior renovations. This part of North Phoenix has boomed in recent years with rise in rental demand and the repositioning of commercial assets. Mountain View will surely help continue the gentrification and growth we are seeing in Sunnyslope today."
ABI Multifamily’s Mitchell Drake, Dallin Hammond, and Carson Griesemer represented the buyer and seller.
The buyer is an Arizona-based private investment firm. The seller is a Washington-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.