Vestis Group Brokers Sale Of Griffith Estates Apartments In Tempe

Vestis Group Brokers Sale Of Griffith Estates Apartments In Tempe

By Natan Jacobs | Vestis Group

(Tempe – March 11, 2013) – Vestis Group is pleased to announce the completed sale of Griffith Estates Apartments, an 8-unit multifamily property, located at 1337 & 1343 W 3rd Street in Tempe, Arizona, for $389,340 / $48,667.50 per unit.

The buyer, AHF American Homes Fund (USA), LP, purchased the 8-unit multifamily property. The seller was O.W.L. Real Estate and Investments, LLC. Natan Jacobs, Les Litwin and Victoria Miachika of Vestis Group represented the Buyer in the sale.

Griffith Estates Tempe Apartments is an 8-unit, garden-style, single-level apartment community located in a strong rental area of north Tempe, just west of Mill Avenue. Built in 1981, Griffith Estates has a flat roof and block construction, one-level buildings and is individually metered for electricity. The unit mix is comprised of one-bedroom / one-bath units of approximately 600 square feet and two-bedroom / one-bath units of approximately 775 square feet. All units have spacious kitchens, mini blinds, ceiling fans and large closets.

Griffith Estates is located in the Sunset Neighborhood of north Tempe, along W 3^rd Street, within walking distance to ASU, Mill Avenue, Tempe Town Lake, Orbit Shuttle and the Valley Metro Light Rail. The property is located in a quiet residential neighborhood east of Priest Drive within close proximity to the Loop 202 Freeway, allowing easy access to Sky Harbor International Airport, Downtown Phoenix, Scottsdale, 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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