Foothill Acres Apartments | 9645 North 11th Avenue, Phoenix, AZ 85021 | 30 Units | $3,500,000 | $116,667 Per Unit | $194.77 Per SF
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com
Phoenix, AZ. (March 29, 2021) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $3,500,000 / $116,667 Per Unit / $194.77 Per SF sale of the Foothill Acres Apartments, a 30-unit multifamily apartment property located in Phoenix, Arizona.
Foothill Acres Apartments is a gated apartment community featuring (14) 1-bedroom / 1-bathroom units and (16) 2-bedroom / 1-bathroom units. The property was built in two phases, with Phase I completed in 1984, Phase II completed in 1989, with extensive full-property renovations completed in 2016. Recent capital improvements include: tile flooring throughout, brand-new dark wood kitchen cabinets, white appliances, new countertops, and updated bathrooms. Foothill Acres Apartments is individually metered for electricity and features a spacious community area, ample parking for residents, and a community laundry facility.
The property is located within the developing Mountain View Acres area, surrounded by up-and-coming restaurants, schools, and parks. It is minutes from North Mountain Park, famous for its numerous hiking trails and wildflower viewing, and within walking distance to the Arizona Canal Trail. The property is also near major transportation throughfares such as the I-17 Highway, US-51 Highway, and within a bike ride’s distance to the 19th Avenue and Dunlap light rail station.
Carson Griesemer, Vice President at ABI, states, "As we've experienced the multifamily landscape here in Phoenix become as competitive as it has, we've seen a boom in gentrification in submarkets that are centrally located yet may have been overlooked in years past. The North Phoenix location is a prime example of this. With continued improvements to the property, the buyer will be sure to contribute to the tremendous growth that Sunnyslope is experiencing today."
ABI Multifamily (https://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.