1

Vestis Group Negotiates West Hill Apartments Sale in Avondale

West Hill Apts,115 W Hill Dr., Avondale, AZ

Vestis Group completed the sale of West Hill Apartments, a 14-unit, apartment community located at 115 West Hill Drive, in Avondale, Arizona, for $935,000 or $66,786 per unit.

Phoenix, Arizona  – Vestis Group, a multifamily brokerage and investment firm, is pleased to announce the sale of West Hill Apartments, a 14-unit, single-story, apartment community located at 115 West Hill Drive, in Avondale, Arizona, for $935,000 or $66,786 per unit.

“We received multiple offers on this West Valley apartment community,” says Natan Jacobs, Principal at Vestis Group and the lead broker for this transaction, “The sellers executed a value-add strategy of select interior renovations with great success and the Buyer plans to continue upon the same path by adding exterior renovations and new amenities to the mix.”

The Phoenix based Vestis Group multifamily brokerage team of Natan Jacobs, Chad Barber and Matt Morrell negotiated the transaction on behalf of the seller, a private investor from Phoenix, Arizona. The buyer, a private investor from Goodyear, Arizona, was represented by Dallan Randall of Commercial Properties, Inc., in Tempe, Arizona.

West Hill Apartments is a 14-unit garden-style apartment home community located in the Historic Avondale Art’s District in Avondale, Arizona. Built in 1980, and refreshed in 2017, West Hill Apartments is a rare single-story multifamily community located in Downtown Avondale near shopping, culture, restaurants and transportation, featuring eight (8) two-bedroom and one-bathroom apartment homes of approximately 820 square feet and six (6) three-bedroom and one-bathroom apartment homes of approximately 962 square feet. Each of the 14 apartment homes includes a private rear patio. West Hill Apartments is located near shopping, dining and entertainment in the Historic Avondale Art’s District and just minutes from all major West Valley transportation corridors of I-10, Loop 101 and the newly opened Loop 303.

West Hill Apartments enjoys a downtown Avondale location, inside the Historic Avondale Art’s District, within close proximity to cultural venues, restaurants, art galleries and city parks. The property is situated south of Van Buren Street and north of Western Avenue, east of Litchfield Road and west of Central Avenue, along Hill Drive, approximately 4.5 miles from the Interstate 10 (Papago Freeway), which connects to Loop 101 (Agua Fria Freeway), Interstate 17 (Black Canyon Freeway), State Route 51 (Piestewa Freeway), Loop 202 (Red Mountain Freeway), and Loop 303 (Bob Stump Memorial Parkway), providing easy access to Downtown Phoenix, Sky Harbor International Airport, Glendale, Goodyear, Tempe, Scottsdale, the southeast and southwest Valleys.

 




Vestis Group Completes Phoenix Multifamily Sale for $250,00 per Unit

3948 E Earll Dr., Phoenix, AZ

Phoenix, Arizona – Vestis Group, a multifamily brokerage and investment firm, is pleased to announce the sale of Earll 40, aka MODE @ 40th Street & Earll, a 2-unit, casita-style apartment community located at 3948 East Earll Drive, in the Arcadia-area of East Phoenix for $500,000 or $250,000 per unit.

“We received multiple offers on this trophy multifamily asset, which shows investors will pay for quality workmanship. Several buyers and brokers commented on the attention to detail MODE puts into their properties,” says Chad Barber, Investment Advisor at Vestis Group and the lead broker for this transaction, “One of the backup buyers who lost out on this deal, actually purchased another MODE project, Earl 39, off-market, just a few weeks ago.”

The Phoenix based Vestis Group multifamily brokerage team of Natan Jacobs, Chad Barber and Matt Morrell negotiated the transaction on behalf of the seller, MODE Apartments+Homes from Phoenix, Arizona. The buyer, a private investor from Phoenix, Arizona, did not utilize third party representation.

Built in 1940 and 1963, Earll 40 was fully remodeled and repositioned in 2016 and 2017. Interior property upgrades include in-suite laundry, polished concrete flooring, sandblasted block walls, vaulted ceilings with exposed rafters, new contemporary cabinetry, custom tile backsplashes, stainless steel appliances, porcelain tile shower surrounds with new fixtures, premium lighting, and low-flow toilets. The revamped exterior features private patios, contemporary metal monument sign, custom steel access gates with keyed entry, combination of grass and xeriscape landscaping and covered parking.

The property is comprised of one (1) two-bedroom / two-bath casita of approximately 1000 square feet and one (1) two-bedroom / two-bath casita of approximately 1,100 square feet. The buildings are constructed of block with pitched asphalt shingle roofs. The property is individually metered for electricity and master metered for water. The property owner is responsible for the cost of water, sewer, and trash pickup, and the residents are responsible for the cost of electricity and gas in their units, including the cost of heating and air conditioning.

Earll 40 Apartments is a casita-style, one-story, multifamily community located in the trendy Arcadia neighborhood in East Phoenix, near numerous Valley hotspots, including: The Vig Arcadia, La Grande Orange Grocery, Postino WineCafe, Beckett’s Table, Crudo, Nook, Chelsea’s Kitchen, North Italia, Buck & Rider, Steak 44 and The Henry. This property has great access to the valley freeway system, the Biltmore and downtown. The property is located in a quiet residential neighborhood one half mile south of the Indian School road along 40th Street and Earll Drive allowing easy access to the Biltmore area, the Camelback Corridor, the valley freeway system and numerous employers.




Vestis Group Completes Off-Market Phoenix Multifamily Sale $217,500 per door

3907 E Earll Dr, Phoenix

Vestis Group completed the sale of MODE @ Earll Apartments, a 2-unit, duplex-style apartment community located at 3907 East Earll Drive, in the Arcadia-area of East Phoenix for $435,000 or $217,500 per unit.

Phoenix, Arizona – Vestis Group, a multifamily brokerage and investment firm, is pleased to announce the sale of Earll 39, aka MODE @ Earll, a 2-unit, duplex-style apartment community located at 3907 East Earll Drive, in the Arcadia-area of East Phoenix for $435,000 or $217,500 per unit.

“We had a multiple offer situation come up on a multifamily property we were listing in the same neighborhood. One of the buyers approached us through their broker and asked if we would consider selling any other MODE properties off-market,” says Chad Barber, Investment Advisor at Vestis Group and the lead broker for this transaction, “They ultimately offered on Earll 39 because it met their investment criteria and they liked its proximity to the Camelback Corridor, Biltmore and Arcadia neighborhood restaurants and entertainment.”

The Phoenix based Vestis Group multifamily brokerage team of Natan Jacobs, Chad Barber and Matt Morrell negotiated the transaction on behalf of the seller, MODE Apartments+Homes from Phoenix, Arizona. The buyer, a private investor from Phoenix, Arizona, was represented by Michael Swindle of My Home Group LLC in Tempe, Arizona.

Earll 39 Apartments, aka MODE @ Earll, is a 2-unit, midcentury modern, single-story, duplex-style, rental community located in the Arcadia neighborhood, near boutiques and popular eateries such as The Vig Arcadia, La Grande Orange Grocery, Postino WineCafe, Beckett’s Table, Crudo, Nook, Chelsea’s Kitchen, North Italia, Buck & Rider, Steak 44 and The Henry.

Earll 39 is a mid-century modern rental community located in the heart of Arcadia Phoenix. The property is located in a quiet residential neighborhood one half mile south of the Indian School Road, just west of 40th Street, along Earll Drive, allowing easy access to the Biltmore area, the Camelback Corridor, the valley freeway system and numerous employers.

Built in 1972, Earll 39 was fully remodeled and repositioned in 2017. Interior property upgrades include in-suite laundry, stainless-steel appliance package, stainless steel sinks with garbage disposal and retractable multi-setting faucet, quartz countertops with porcelain tile backsplash, stained concrete floors, porcelain tile shower surrounds with new fixtures, premium lighting, and low-flow toilets. The revamped exterior features private patios, pet friendly accommodations, keyed entry pedestrian gates and covered parking.