Phoenix, AZ. (July 1, 2024) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $15,750,000 / $196,875 Per Unit / $280 Per SF sale of The Ivy off Central Apartments, an 80-unit multifamily apartment community located in Phoenix, Arizona. The Buyer and Seller were represented by ABI Multifamily's Phoenix-based Institutional Arizona Team - Alon Shnitzer, Rue Bax, Eddie Chang, and Doug Lazovick.
The Buyer and Seller are based in California.
The Ivy off Central Apartments is an 80-unit multifamily community in the South Phoenix submarket of Phoenix, AZ. Situated east of South Central Avenue between East Broadway Road and East Roeser Road, the property sits less than four miles south of Downtown Phoenix and less than six miles southwest of Phoenix Sky Harbor International Airport. Residents enjoy a premium, central location with direct access to all areas of Phoenix by way of the Interstate-17, Interstate-10, Arizona State Route 51, Arizona State Route 202, and Arizona State Route 143. Immediate neighborhood conveniences and services include Fry’s Food & Drug, Safeway, Walgreen’s, and Lowe’s Home Improvement. The South Phoenix submarket is anchored by a choice selection of golf courses such as the Aguila Golf Course and Raven Golf Club in addition to the South Mountain Park located just four miles south of the property which features extensive hiking trails and panoramic views.
The 80 units are arranged in 8 two-story buildings with wood-frame construction, stucco exterior finishes, and flat roofing situated on approximately 4.68 acres of land. Community amenities include a swimming pool, laundry facility, and pet park. The property consists exclusively of 80 two-bedroom / one-bathroom units with a weighted average of 703 SF. Each unit is individually metered for electricity and features individual hot water heaters. Interior amenities include air conditioning / heating, oversized closets, patio / balcony, and kitchen appliances.
ABI Multifamily (https://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Las Vegas, San Diego, and Tucson. 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.