PHOENIX, Ariz., (March 14, 2024) – 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 Granada, a six-unit multifamily property located in Phoenix, Arizona. The asset sold for $1,350,000.
“Granada is a turn-key community located in Central Phoenix less than a mile from the intersection of three significant Phoenix Metro thoroughfares,” said Darrell Moffit, senior vice president investments in Marcus & Millichap’s Phoenix office. “Comprised of large two-bedroom units with upgraded interior finishes, new ownership will be able to focus on maximizing management efficiencies and raising rents as the market improves.” Moffitt, along with Paul Bay, senior vice president investments, and Adam Saylor, investment associate in the firm’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a private investor.
Granada is located at 2912-2916 East Granada Road in Phoenix, Arizona. Built in 1963, each two-bedroom unit is single-story, has covered parking, and is equipped with stainless steel appliances, new cabinets, countertops, and flooring.