Phoenix, AZ. (October 20, 2023) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $6,100,000 / $225,926 Per Unit / $296.84 Per SF sale of The Harlow Townhomes, a 27-unit multifamily apartment community located in Tempe, Arizona. The transaction was facilitated by ABI Multifamily's Carson Griesemer, Dallin Hammond, and Mitchell Drake.
The buyer is based in Arizona.
Situated along the frontage of Broadway Road in the heart of Tempe and the southeast valley of Metro Phoenix, The Harlow Townhomes presents a rare opportunity to acquire a low-density 27-unit, 2019 renovated, luxury one- and two-story apartment community. Built in 1963 (25 units) and 1982 (2 units) using block and wood frame construction, The Harlow Townhomes consists of 20,550 square feet of rental space with a 761 square foot per unit average. The property is individually metered for utilities with (19) two-bedroom / one-and-a-half bathroom townhouse style units, (2) two-bedroom/two-bathroom units, and (6) one-bedroom/ one-bathroom units.
Each townhome (19 of 27 units) has an open concept floor plan with expansive nine-foot ceilings, quartz countertops, stainless steel appliances, custom cabinetry, full-size side-by-side washers and dryers, wood plank flooring throughout, designer paint, and many other luxury-home touches. The extensive property renovations include newer roofs, dual-pane doors, and windows. Other amenities include ample open parking, controlled access entry gates, enclosed dog park, pergola covered sitting area, BBQ, and swimming pool. The property also enjoys an on-site management office allowing for convenient coordination with current and prospective tenants.
The Harlow Townhomes is located a short drive from Arizona State University’s Tempe campus and just under a mile from the 101 freeway, providing terrific access. Some of the area’s largest employers include State Farm Insurance, City of Tempe, Salt River Project, Chase Bankcard Services, and Arizona State University.