Vestis Group Brokers Sale Of FQ Story Apartments Near Downtown Phoenix
By Natan Jacobs | Vestis Group
(Phoenix – July 5, 2013) – Vestis Group is pleased to announce the completed sale of FQ Story Apartments, an 8-unit multifamily property, located at 1317 & 1321 W. McDowell Road in Phoenix, Arizona, for $330,000 / $41,250 per unit.
Rochelle Rojas Living Trust sold the FQ Story Apartments in Phoenix to a private investment group from Phoenix, Arizona for $330,000. Natan Jacobs and Les Litwin of Vestis Group negotiating the sale of this Phoenix apartment complex. The new owner plans to upgrade the unit interiors and refresh the buildings’ exterior and amenities.
FQ Story Apartments is a charming Spanish Revival one story, courtyard-style, community built in 1945 comprised of 8 two bedroom / one bathroom units of approximately 686 square feet. The building is constructed of block with pitched tile roofs.
Amenities include a coin operated washer and dryer facility, courtyard, mature landscaping and covered parking. The property is individually metered for electricity and master metered for water and gas. The property owner is responsible for the cost of water, sewer, and trash pickup, and the residents are responsible for the cost of electricity in their units, including the cost of heating and air conditioning.
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.