Vestis Group Brokers Off-Market Multifamily Sale Of Phoenix Apartments

Vestis Group Brokers Off-Market Multifamily Sale Of Phoenix Apartments

By Natan Jacobs | Vestis Group

(Phoenix – July 5, 2013) – Vestis Group is pleased to announce the completed sale of Mountain View Acres Apartments, a 20-unit multifamily property, located at 1346 E. Mountain View Road in Phoenix, Arizona, for $723,500 / $36,175 per unit.

Partis Mountain, LLLP of Vancouver, BC Canada sold the Mountain View Manor Apartments in Phoenix to a private investor for $723,500. Natan Jacobs, Les Litwin and Victoria Miachika of Vestis Group negotiated the off-market sale on behalf of both Buyer and Seller. The new owner plans to hold the Phoenix multifamily property with newly renovated interiors long-term.

Mountain View Acres Apartments is a 20-unit, garden-style apartment community located in a strong rental area of north central Phoenix. Built in 1984, Mountain View Acres has a pitched, composition shingle roof and frame construction, two-level buildings. The unit mix is comprised of all two-bedroom / one-bath units of approximately 800 square feet. All units have spacious kitchens, mini blinds, ceiling fans, large closets and are individually metered for electric. Common area amenities include a swimming pool, abundant parking, on-site laundry and play area.

Mountain View Acres is located in north central Phoenix, along E Mountain View Road, within walking distance to the Phoenix Mountains and various hiking and walking trails. The property is located in a quiet residential neighborhood 1.5 miles north of Northern Avenue, along Mountain View Road allowing easy access to the SR-51 Freeway, 7^thStreet, Cave Creek Road, the Biltmore area, the Camelback Corridor, Downtown Phoenix, Sky Harbor International Airport, the valley freeway system and numerous employers.

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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