Phoenix, Ariz. – ABI Multifamily – the leading multifamily brokerage and advisory services firm in the Western U.S. – is proud to announce the $3,050,000 / $190,625 Per Unit / $215.40 per SF sale of Yardz on Colter in Phoenix, Ariz.
The transaction consists of 16 market rate garden-style units in the West Phoenix submarket, conveniently located near three light stations, including a Park & Ride location, as well as Christown Spectrum mall and numerous other shopping, dining and entertainment options. The property is one mile from Interstate 17, and Grand Canyon University lies 2.5 miles to the southwest.
Built in 1965 and fully renovated in 2018-2019, the 100% two-bedroom/one-bath community features kitchens with stainless steel appliances, wood-look vinyl flooring throughout, contemporary bathrooms, modern finishes and interior washers and dryers.
ABI Multifamily VP Royce Munroe represented the Seller.
“This is a rapidly modernizing submarket with a great deal of appeal for both new and established households,” Munroe said. “The Seller’s investment in modernizing the property while maintaining its historically unique identity created a turnkey environment for the Buyer to begin realizing immediate value from the investment.”
The Buyer is private investment firm based in California. The Seller is an Arizona-based private multifamily investment firm.
ABI Multifamily (https://abimultifamily.com/) is a brokerage and advisory services firm focused 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.