Vestis Group Negotiates Sale Of Desert Siesta Apartments in Phoenix AZ

Vestis Group Negotiates Sale Of Desert Siesta Apartments in Phoenix AZ

By Natan Jacobs | Vestis Group

(Phoenix – July 5, 2013) – Vestis Group is pleased to announce the completed sale of Desert Siesta Apartments, a 9-unit multifamily property, located at 4235 North 17th Street in Phoenix, Arizona, for $350,000 / $38,889 per unit.

William & Carole Thurlow sold the Desert Siesta Apartments in Phoenix to Cinderbox, LLC, an Arizona limited liability company for $350,000. Natan Jacobs, Les Litwin and Victoria Miachika of Vestis Group represented the Buyer in the sale of this Phoenix apartment complex. Jason Campagna of RE/MAX Professionals represented the Seller. The new owner plans to improve the Phoenix apartment community with refreshed interiors and several exterior improvements.

Desert Siesta Apartments is a 9-unit Phoenix multifamily community built in 1986. The property is  comprised of 7 two-bedroom / two-bath units of approximately 1,030 square feet and 2 one-bedroom / one-bath units of approximately 830 square feet, providing a superior unit mix to that of its competitors within the submarket. The unit interiors include in-suite stacked washer/dryers, wood laminate and carpet floors, bathrooms and kitchens which include a modern “all electric” appliance package; convenient walk-in closets are also in each unit. Common area amenities include covered parking, washer/dryer hookups, balconies/patios, storage, individually-metered for electricity.

Desert Siesta Apartments is located in central Phoenix, in the East Phoenix sub-market, near the Camelback Corridor, major employment centers and shopping. The Property enjoys easy access to the SR-51 Freeway and is minutes from Biltmore/Esplanade, Downtown Phoenix and Sky Harbor International Airport.

 

About Vestis Group

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.

 

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