Press Release | ABI Multifamily Brokers 18-Unit Multifamily Apartment Property for $10,000,000

Phoenix AZ, Multifamily, Apartments, Investment Sales, Alon Shnitzer, Alon Shnitzer, Gifford Groves Townhomes

Gifford Groves Townhomes | 3250 East Pinchot Avenue, Phoenix, AZ 85018 | 18 Units | $10,000,000 | $555,556 Per Unit | $255.78 Per SF


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ABI Multifamily Brokers 18-Unit Multifamily Apartment Property for $10,000,000

Phoenix, AZ. (April 21, 2021) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $10,000,000 / $555,556 Per Unit / $255.78 Per SF sale of Gifford Groves Townhomes, a 18-unit multifamily apartment property located in Phoenix, Arizona.

Named after Gifford Pinchot, first head of the United States Forest Service, Gifford Groves Townhomes is an 18-unit, individually parcelled, townhome rental community constructed in Phoenix, AZ. Situated just east of North 32nd Street in between East Osborn Road and East Thomas Road on the namesake Pinchot Avenue. The property sits less than three miles from the Biltmore area, six miles north of Downtown Phoenix and is within close proximity to the prestigious Arcadia neighborhood area which is characterized by high median household incomes of $118,750-plus and high median housing values of $897,000-plus according to 2018 ACS data. Residents enjoy a premium, central location with direct access to all areas of Phoenix by way of Interstate-10, Loop 202 and State Route 51. Immediate neighborhood conveniences and services include: Walgreens, Walmart Supercenter, Fry’s Food and Drug, Target, Costco Wholesale, CVS Pharmacy and Chase Bank.

An abundance of retail, entertainment and dining options are less than a 10 minute drive away at the Biltmore Fashion Park area at the intersection of Camelback Road and North 24th street where residents have ready access to desirable destinations such as: Macy’s, Saks Fifth Avenue, Lifetime Fitness, AMC Dine-In Theater, the Arizona Biltmore Resort and Golf Club, Tocaya Organica, The Gladly, Breakfast Club and a selection of Sam Fox Restaurant concepts such at Zinburger and Blanco Tacos & Tequila.

Completed in 2020 and 2021, Gifford Grove Townhomes features modern and sustainable interior amenities, community swimming pool with poolside ramada and barbecue grills, private gated entry, private backyard area and patio, dog park and 400 square foot two-car direct-access garage for all townhome units. The 18 townhome units are individually parcelled and arranged in 9 two-story buildings in a combination of 2 fourplexes, 3 duplexes and 4 detached building configurations. The driveways and pavements within the property boundaries are composed of high-durability concrete in lieu of asphalt and all buildings consist of 2x6 wood frame construction, stucco exterior finish, spray foam insulation and pitched energy star rated shingle roofing situated on approximately 1.40 acres of land.

The property features an attractive unit mix of 15 three-bedroom plus bonus room / two-and-a-half bathroom and 3 four-bedroom / two-and-a-half bathroom townhome units at 2,172 square feet each, not including the 400 square foot two-car direct-access garage. Each townhome unit is individually metered for electricity and features individual hot water heaters. Interior amenities include: Smart temperature control, Ring Doorbell, quartz countertops, stackable washer / dryer appliance with sink, private beverage fridge in master bedroom, walk-in closet, ceiling fans, vaulted ceilings, porcelain 12x36 wood-like tile flooring, high-speed fiber optic internet and kitchens fully-equipped with energy star stainless-steel appliance packages which include: Refrigerator, oven / stove, microwave, dishwasher, and garbage disposal.

Significant employers in close proximity to the property include the numerous companies located in Midtown, Downtown, and the Camelback Corridor, as well as Banner Health, St. Joseph’s Hospital, U-Haul International, Wells Fargo, JP Morgan Chase, and Phoenix Children’s Hospital.

ABI Multifamily's Alon Shnitzer represented the Seller in this transaction.

ABI Multifamily's Alon Shnitzer represented the Buyer.

The buyer is based in California and the seller is based in .

ABI Multifamily ( 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.