The Campbell | 2617 East Campbell Avenue, Phoenix, AZ 85016 | 11 Units | $2,245,000 | $204,091 Per Unit | $327.40 Per SF
FOR IMMEDIATE RELEASE
Company Website: www.ABImultifamily.com
Phoenix, AZ (November 6, 2020) - ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western U.S., is proud to announce the $2,245,000 / $204,091 per Unit / $327.40 per SF sale of The Campbell, a 11-unit garden-style property in Phoenix.
Built in 1961 and renovated in 2019, The Campbell is a fully renovated opportunity through interior & exterior renovations that include stainless steel appliance packages, quartz countertops, new cabinets, and in-unit washers & dryers. The property consists of 11 garden-style units made up of (4) studios, (4) one-bedroom / one-bathroom, (1) large two-bedroom / one-bathroom, (2) large three-bedroom / two-bathroom units that are all individually metered for electricity & gas. This boutique apartment community’s amenities feature private front patios for each unit, a community garden, and ample covered parking.
The Campbell is nestled in a prime Arcadia-adjacent location. The property is located near The Biltmore, Uptown Phoenix, and the 24th Street & Camelback corridor, which presents a vast amount of entertainment, shopping, and dining options. The location also includes easy access to the AZ-51 and a short drive to Phoenix Sky Harbor International Airport and the vibrant Downtown Phoenix area.
"The timing could not have been any better for both the Buyer and the Seller on this transaction,” states Mitchell Drake, Vice President at ABI. “The Buyer had just completed a cash-out refinance on a California property and was eagerly searching for their next Phoenix multifamily purchase. The Seller had been entertaining the thought of selling the property for a year or so and was finally ready to start seriously considering offers. Both parties quickly came to an agreement on a price point that left each side very satisfied with their position in the transaction."
ABI Multifamily’s Mitchell Drake, Dallin Hammond, and Carson Griesemer represented the Buyer & Seller.
The buyers are California-based private investors. The sellers are Arizona-based private investors.
ABI Multifamily (http://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Tucson, Sacramento and San Diego, the experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.