VESTIS GROUP BROKERS WEST HILL APARTMENTS SALE IN AVONDALE, AZ
By Natan Jacobs | Vestis Group
(Phoenix – February 27, 2018) – Vestis Group, a multifamily brokerage and investment firm, is pleased to announce the sale of West Hill Apartments, a 14-unit, single-story, apartment community located at 115 West Hill Drive, in Avondale, Arizona, for $935,000 or $66,786 per unit.
“We received multiple offers on this West Valley apartment community,” says Natan Jacobs, Principal at Vestis Group and the lead broker for this transaction, “The sellers executed a value-add strategy of select interior renovations with great success and the Buyer plans to continue upon the same path by adding exterior renovations and new amenities to the mix.”
The Phoenix based Vestis Group multifamily brokerage team of Natan Jacobs, Chad Barber and Matt Morrell negotiated the transaction on behalf of the seller, a private investor from Phoenix, Arizona. The buyer, a private investor from Goodyear, Arizona, was represented by Dallan Randall of Commercial Properties, Inc., in Tempe, Arizona.
West Hill Apartments is a 14-unit garden-style apartment home community located in the Historic Avondale Art’s District in Avondale, Arizona. Built in 1980, and refreshed in 2017, West Hill Apartments is a rare single-story multifamily community located in Downtown Avondale near shopping, culture, restaurants and transportation, featuring eight (8) two-bedroom and one-bathroom apartment homes of approximately 820 square feet and six (6) three-bedroom and one-bathroom apartment homes of approximately 962 square feet. Each of the 14 apartment homes includes a private rear patio. West Hill Apartments is located near shopping, dining and entertainment in the Historic Avondale Art’s District and just minutes from all major West Valley transportation corridors of I-10, Loop 101 and the newly opened Loop 303.
West Hill Apartments enjoys a downtown Avondale location, inside the Historic Avondale Art’s District, within close proximity to cultural venues, restaurants, art galleries and city parks. The property is situated south of Van Buren Street and north of Western Avenue, east of Litchfield Road and west of Central Avenue, along Hill Drive, approximately 4.5 miles from the Interstate 10 (Papago Freeway), which connects to Loop 101 (Agua Fria Freeway), Interstate 17 (Black Canyon Freeway), State Route 51 (Piestewa Freeway), Loop 202 (Red Mountain Freeway), and Loop 303 (Bob Stump Memorial Parkway), providing easy access to Downtown Phoenix, Sky Harbor International Airport, Glendale, Goodyear, Tempe, Scottsdale, the southeast and southwest Valleys.
Vestis Group is the broker of choice for individuals and institutions investing in multifamily residential and commercial real estate throughout Metropolitan Phoenix. Our advisors assist clients in the acquisition and disposition of multifamily investment and retail investment assets, including, apartments, bulk condo packages, duplex/triplex/fourplex properties, single-family rental portfolios (SFR Portfolios), income producing single-family investment properties, neighborhood strip centers, retail power centers, retail strip centers, neighborhood grocery, retail PAD and retail shopping centers. In the field of housing, Vestis Group’s principals have developed, built, rehabilitated, constructed, improved, managed, and sold thousands of apartments units, condos, single-family homes and home sites.