49th Place | 2040 - 2048 North 49th Place, Phoenix, AZ 85008 | 9 Units | $1,700,000 | $188,889 Per Unit | $329.78 Per SF
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com
Phoenix, AZ. (March 4, 2024) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $1,700,000 / $188,889 Per Unit / $329.78 Per SF sale of 49th Place, a 9-unit multifamily apartment community located in Phoenix, Arizona. The buyer was represented by ABI Multifamily's Mitchell Drake, Dallin Hammond, and Carson Griesemer. ABI Multifamily's Colin Kreager represented the seller in this transaction.
The buyer is based in California and the seller is based in Colorado.
Built in 1961, 49th Place is a nine-unit, garden-style apartment community comprised of block construction and pitched composition shingle roof. The property features (5) one-bedroom / one-bathroom & (4) two-bedroom / one-bathroom units with an average size of 573 SF. Updates to the property include new interior finishes such as stainless-steel appliances, quartz countertops, new cabinets, and vinyl plank flooring. Exterior updates include a new roof and new HVACs. The property features parking, a landscaped courtyard, storage, and laundry on site.
49th Place is located just north of McDowell Road and a short drive The Phoenix Zoo, Papago Golf Course, Desert Botanical Garden, Fashion Square Mall, and Sky Harbor International Airport through the major thoroughfares of the AZ-202, 143 Expressway, I-10, AZ-51, and AZ-101 freeways. The property is also minutes away from the Footprint Center (home of the Phoenix Suns), Chase Field (home of the Arizona Diamondbacks), as well as the Arizona State University Downtown and Tempe Campuses.
ABI Multifamily (https://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Las Vegas, San Diego, and Tucson, 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.