Vestis Group Brokers 75-Unit Fractured Condo Sale In Phoenix For $2.6M

Vestis Group Brokers 75-Unit Fractured Condo Sale In Phoenix For $2.6M

By Natan Jacobs | Vestis Group

(Phoenix – October 31, 2013) – Vestis Group is pleased to announce that Principals Natan Jacobs and Les Litwin have completed the sale of 75-units (bulk condos) of Loma Bonita Condominium aka Mountain View Manor for $2,606,250 / $34,750 per unit.

The buyer, AHO, LLC, a local investor, purchased 75 of 92 units within the community. The seller consisted of 18 separate owners, the majority of which had previously taken title through foreclosure. Natan Jacobs and Les Litwin with Vestis Group in Phoenix represented the sellers in the sale. Jim Hill with Real Living S.J. Fowler Real Estate in Phoenix represented the Buyer in the sale.

75 units available for sale as a package (bulk condos) inside, Loma Bonita, a 92-unit garden-style condominium community, located at 1301 East Mountain View Road in Phoenix, AZ, built in 1984 and renovated for conversion in 2007. Loma Bonita offers spacious two-bedroom / one-bath condos of approximately 800 square feet in North Central Phoenix. Amenities include: Stainless Steel Appliances, In-Suite Washer/Dryer, Updated Kitchens and Bathrooms, Gated Community Pool, Dramatic Mountain Views (some units), Large Closets/Storage, Private Balconies/Patios and Two Laundry Facilities.

Loma Bonita is located at 1301 East Mountain View Road in Phoenix, Arizona. With frontage on Mountain View Road, Loma Bonita is situated among a quite residential neighborhood surrounded by single-family homes, nestled in the foothills of the majestic Phoenix Mountains, adjacent to prestigious Squaw Peak in North Central Phoenix. The property enjoys easy access to the SR-51 Freeway, 7th Street and Cave Creek Road all major North/South thoroughfares. In addition, the property is within proximity to the Pointe Golf Club at Lookout Mountain where homes are valued at over $1 million. Major employers in the area include John C. Lincoln North Mountain Hospital, PING, Inc., Southwest Gas, Arizona Christian University, Goodwill of Central Arizona, Arizona Army National Guard, Pointe Hilton Tapatio Cliffs Resort and Pointe Hilton Squaw Peak Resort.

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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