Vestis Group Completes Sale Of Griffith Estates Apartments In Tempe
Tempe, Ariz. (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. – more at facebook.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.