Vestis Group Brokers Sell $1.375 M Aggregate In Apartments

Vestis Group Brokers Sell $1.375 M Aggregate In Apartments

By Editor | Real Estate Daily News

36th Street Apartments In Phoenix Trades For $65,000 Per Unit

Highway Fourteen, Inc. of Sherman Oaks, California sold the 36th Street Apartments, located at 3151 N 36th Street, near the Arcadia neighborhood of Phoenix to a private Canadian investor from Edmonton, Alberta for $390,000 ($65,000 per unit).

36th Street Apartments is a 6 unit, garden-style multifamily community located in east central Phoenix. Built in 1955, the property consists of single-level buildings of concrete-block construction with pitched, composition shingle roof.. The unit mix is comprised of 4 one-bedroom / one-bath units of approximately 550-square-feet, 1 two-bedroom / one-bath units of approximately 900-square-feet and 1 three-bedroom / two-bath unit of approximately 1,419-square-feet. All the units have spacious kitchens and large closets. Common area amenities include covered parking and laundry facility.

36th Street Apartments enjoys an east central Phoenix location near numerous Valley hotspots, including:The Vig Arcadia, La Grande Orange Grocery, Postino WineCafe, Beckett’s Table, Crudo, Nook, Chelsea’s Kitchen and North Italia. This property has great access to the valley freeway system, the Biltmore and downtown. The property is located in a quiet residential neighborhood one half mile south of Indian School Road along 36th Street allowing easy access to Biltmore shopping, Arcadia restaurants, the Camelback Corridor business district, the Valley freeway system and numerous employers.

Victoria Miachika, Natan Jacobs and Les Litwin with Vestis Group in Phoenix represented the Buyer in the sale of this Phoenix multifamily property. David Patterson with Quantum of Arizona in Phoenix represented the Seller.

In a second transaction, Vestis Group Brokered the sale of 8 Chandler duplexes

AZ-APT-3113, LLC an investment group through Fenix Capital Of Arizona, sold the McQueen Apartments, located at 298 N McQueen Road, in Chandler, Arizona to a private investor from San Diego, California for $985,000 ($61,600 per unit).

McQueen Apartments is a 16 unit, garden-style multifamily community located in Chandler, Arizona. Built in 1984, McQueen Apartments has a pitched, composition shingle roof and wood-frame construction, and eight duplex single-level buildings. The unit mix is comprised of 8 two-bedroom / two-bath units and 8 three-bedroom / two-bath units. All the units have spacious kitchens and large closets. Common area amenities include covered parking and exterior washer/dryer units.

Victoria Miachika, Natan Jacobs and Les Litwin with Vestis Group in Phoenix represented the Buyer in the sale of this Chandler multifamily property. The seller did not utilize outside representation in the sale. – more at realestatedaily-news.com

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.