Vestis Group Completes Sale Of Melrose Place Apartments In Phoenix AZ
By Editor | Real Estate Daily News
JMRS Melrose, LLC of San Diego, California sold the 13-unit Melrose Place Apartments, located at 3110 N 40th Street, in the sought after Arcadia neighborhood in Phoenix to a private investment group from Arizona for $750,000 ($58,000 per unit).
Melrose Place Apartments is a garden-style multifamily community located in east central Phoenix. Built in 1965, Melrose Place has a pitched, composition roof and concrete-block construction, with single-level buildings. The unit mix is comprised of 4 one-bedroom / one-bath units of approximately 800-square-feet each, 7 two-bedroom / two-bath units of approximately 1,000-square-feet and 2 three-bedroom / two-bath units of 1,225-square-feet. All units have spacious kitchens and large closets. Common area amenities included a swimming pool, covered parking and laundry facility. – more at realestatedaily-news.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.