MESA, Ariz., June 23, 2023 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of South Williams, a 12-unit apartment property located in Mesa, Arizona. The asset sold for $1,840,000 ($153,333 per unit).
“Approximately two miles north of the US-60 freeway and less than a mile south of the Valley Metro Light Rail, South Williams offers residents convenient access to major transportation options from its rapidly improving west Mesa location,” shares Paul Bay, senior vice president investments in Marcus & Millichap’s Phoenix office. “New ownership will have the opportunity to renovate all unit interiors to capitalize on renovation premiums already proven in the submarket.”
Adam Saylor, Bay and Darrell Moffitt, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was procured by Bay.
South Williams is located at 335-359 South Williams in Mesa, Arizona.