PHOENIX, ARIZONA - Toscana Resort and Villas, located at the southwest corner of 10th Street and Bethany Home Road at 929 East Bethany Home Road, traded for $4 million or $166,66 per unit. Jackson Everhart and Zack Mishkin of ORION Investment Real Estate represented the Buyer and Seller in the transaction. The Buyer was Joe Risi of Risi Companies, and the Seller was DF Sauer Properties LLC, lead by Dan Sauer.Nestled in a desirable Northern Midtown Phoenix neighborhood, Toscana Resort and Villas offers a strong location to tenants with easy access to numerous workplaces as well as every entertainment option imaginable f rom city options like shopping and dining at Biltmore Fashion Square to nature-lover options like hiking at the Phoenix Mountain Preserve and biking along the Grand Canalscape. The property is just a couple blocks west of SR-51 and not much further f rom a Metro Light-Rail stop.
Built in the 1960s, Toscana Resort and Villas 24 units have a great mid-century feel that compliments the neighborhood well. The unit mix mostly consists of one- and two-bedroom layouts, with one three bedroom plan. Every unit is unique on the property and allows for a lot of creativity in the Buyer’s planned renovation project.
Jackson Everhart commented on the transaction, “Zack and I were very excited to work with both parties on this transaction. Toscana is located in a fantastic neighborhood and the Buyer is excited to put this property in his portfolio.”