PHOENIX, August 25, 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 Country Manor, a 14-unit apartment property located in Phoenix, Arizona. The asset sold for $2,250,000.
Paul Bay, Darrell Moffitt, and Adam Saylor, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.
“Located in a rapidly transforming North Phoenix residential neighborhood, Country Manor provides residents nearby access to major retail, Paradise Valley Community College and AZ Route 51 – a main artery in Central Phoenix. Future ownership will have the opportunity to renovate all units capturing renovation premiums already proven in the immediate neighborhood,” says Bay. Country Manor is located at 16821 North 26th Street in Phoenix, Arizona