75-Unit Bulk Condo Sale at Loma Bonita, Phoenix Sells For $2.6M

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Loma Bonita2AHO, LLC, a local investor, purchased 75 of 92 units within the community of Loma Bonita aka Mountain View Manor at 1301 East Mountain View Road in Phoenix for $2.6 million ($34,750 per unit). The 75 units sold as a package (bulk condos) at Loma Bonita, a 92-unit garden-style condominium community.

Built in 1984 and renovated for conversion in 2007. Loma Bonita offers spacious two-bedroom / one-bath condos of approximately 800 square feet in North Central Phoenix. Amenities include: Stainless Steel Appliances, In-Suite Washer/Dryer, Updated Kitchens and Bathrooms, Gated Community Pool, Dramatic Mountain Views (some units), Large Closets/Storage, Private Balconies/Patios and Two Laundry Facilities. Loma Bonita is located with frontage on Mountain View Road, situated among a quiet residential neighborhood surrounded by single-family homes, in the foothills of the Phoenix Mountains, adjacent to prestigious Squaw Peak in North Central Phoenix.

The property enjoys easy access to the SR-51 Freeway, 7th Street and Cave Creek Road all major North/South thoroughfares. In addition, the property is within proximity to the Pointe Golf Club at Lookout Mountain where homes are valued at over $1 million. Major employers in the area include John C. Lincoln North Mountain Hospital, PING, Inc., Southwest Gas, Arizona Christian University, Goodwill of Central Arizona, Arizona Army National Guard, Pointe Hilton Tapatio Cliffs Resort and Pointe Hilton Squaw Peak Resort.

The seller consisted of 18 separate owners, the majority of whom had previously taken title through foreclosure. Natan Jacobs and Les Litwin Principals with the Vestis Group in Phoenix represented the sellers in the sale. Jim Hill with Real Living S.J. Fowler Real Estate in Phoenix represented the Buyer.

Jacobs and Litwin should be contacted at (602) 387-5330. Hill can be reached at (602) 264-8400.