The new multifamily community has 56 units
PHOENIX – October 4, 2023 – CBRE has facilitated the sale of the new 56-unit Landmark on 67th in Peoria to LM67 LLC for $16.23 million, or $289,857 per unit.
Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of CBRE in Phoenix represented the seller in the transaction, RET3 LLC. They also represented the buyer in the transaction.
"Landmark on 67th provides the buyer with a rare opportunity to acquire a brand-new low-density community well positioned for long-term growth in a rapidly developing submarket," said Mr. Smuckler, CBRE's executive vice president.
The Class A community, located at 9160 North 67th Avenue, was completed in 2022. All of the property's units are two-bedroom and two-bath floor plans, each averaging 1,100 sq. ft. The interior units feature contemporary finishes, including stainless steel appliances, white shaker-style cabinetry, quartz countertops and subway tile backsplashes.
The community is situated on 4.11 acres and spread across seven two-story buildings. The community features a leasing office, swimming pool and spa, Cabana-style seating, fitness center, covered playground and a dog park. Landmark on 67th is situated near the central business district and the Westgate entertainment mixed-use development. The location is minutes east of the Loop 101 and State Route 60.