VESTIS GROUP BROKERS OFF-MARKET PHOENIX MULTIFAMILY SALE FOR $217,500 PER UNIT
By Natan Jacobs | Vestis Group
(Phoenix – September 15, 2017) – Vestis Group, a multifamily brokerage and investment firm, is pleased to announce the sale of Earll 39, aka MODE @ Earll, a 2-unit, duplex-style apartment community located at 3907 East Earll Drive, in the Arcadia-area of East Phoenix for $435,000 or $217,500 per unit.
“We had a multiple offer situation come up on a multifamily property we were listing in the same neighborhood. One of the buyers approached us through their broker and asked if we would consider selling any other MODE properties off-market,” says Chad Barber, Investment Advisor at Vestis Group and the lead broker for this transaction, “They ultimately offered on Earll 39 because it met their investment criteria and they liked its proximity to the Camelback Corridor, Biltmore and Arcadia neighborhood restaurants and entertainment.”
The Phoenix based Vestis Group multifamily brokerage team of Natan Jacobs, Chad Barber and Matt Morrell negotiated the transaction on behalf of the seller, MODE Apartments+Homes from Phoenix, Arizona. The buyer, a private investor from Phoenix, Arizona, was represented by Michael Swindle of My Home Group LLC in Tempe, Arizona.
Earll 39 Apartments, aka MODE @ Earll, is a 2-unit, midcentury modern, single-story, duplex-style, rental community located in the Arcadia neighborhood, near boutiques and popular eateries such as The Vig Arcadia, La Grande Orange Grocery, Postino WineCafe, Beckett’s Table, Crudo, Nook, Chelsea’s Kitchen, North Italia, Buck & Rider, Steak 44 and The Henry.
Earll 39 is a mid-century modern rental community located in the heart of Arcadia Phoenix. The property is located in a quiet residential neighborhood one half mile south of the Indian School Road, just west of 40th Street, along Earll Drive, allowing easy access to the Biltmore area, the Camelback Corridor, the valley freeway system and numerous employers.
Built in 1972, Earll 39 was fully remodeled and repositioned in 2017. Interior property upgrades include in-suite laundry, stainless-steel appliance package, stainless steel sinks with garbage disposal and retractable multi-setting faucet, quartz countertops with porcelain tile backsplash, stained concrete floors, porcelain tile shower surrounds with new fixtures, premium lighting, and low-flow toilets. The revamped exterior features private patios, pet friendly accommodations, keyed entry pedestrian gates and covered parking.
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.