Scottsdale Townhouse Apartments | 3212 North 70th Street, Scottsdale, AZ 85251 | 25 Units | $6,050,000 | $242,000 Per Unit | $233.14 Per SF
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com
Phoenix, AZ (April 29, 2020): ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western U.S., is proud to announce the $6,050,000 / $242,000 per Unit / $233.14 per SF sale of Scottsdale Townhouse Apartments, a 25-unit property in Scottsdale.
Scottsdale Townhouse Apartments is located in the heart of Old Town Scottsdale. This prime Scottsdale location is positioned walking distance from a hot bed of top of the line restaurants, shopping, and entertainment options. The townhouse community features community laundry, a clubhouse, and a large courtyard.
Built in 1973, Scottsdale Townhouse Apartments consists of 25 garden-style units that are individually metered for electricity and hot water. All units are two-bedroom, townhome-style floorplans that include private patios and yard-space.
“The property has premium appeal being located just off Scottsdale Road and less than a mile from Old Town Scottsdale. The Seller was motivated by strong demand for multifamily property and will pivot to properties smaller in size in the future,” states Royce Munroe, Vice President at ABI who represented the Seller.
Mitchell Drake, Vice President at ABI who represented the Buyer states, “The Buyer saw a tremendous opportunity to purchase a non-rehabbed project with substantial upside in rents and in an area where there is significant demand.”
ABI Multifamily’s Mitchell Drake, Dallin Hammond, and Royce Munroe represented the buyer and seller.
The buyer is an Arizona-based private investment firm. The seller is an Arizona-based private investment firm.
ABI Multifamily (http://www.abimultifamily.com/)is a brokerage and advisory services firm focused 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.