Vestis Group Brokers Sale of 24th Street Corridor Apartments in Phoenix

Biltmore Flats, 2004 North 24th St., Phoenix, AZ

Biltmore Flats, an 8-unit, single-story apartment community located at 2004 North 24th Street, in Central Phoenix sells for $975,000 or $121,875 per unit.

PHOENIX, ARIZONA – Vestis Group, a multifamily brokerage and investment firm, is pleased to announce the sale of Biltmore Flats, an 8-unit, single-story apartment community located at 2004 North 24th Street, in Central Phoenix for $975,000 or $121,875 per unit.

The Phoenix based Vestis Group multifamily brokerage team of Natan JacobsMatt Morrell and Chad Barber negotiated the transaction on behalf of the seller, a private investor from Phoenix, Arizona. The buyer, a private investor from Durango, Colorado, was represented by Victoria Miachika of GPCI | Real Estate Multifamily & Land Development of Scottsdale, Arizona. MODE Apartment Living LLC will continue to professionally manage the apartment community for the new owner.

Biltmore Flats Apartments, aka MODE @ 24th Street, is an 8-unit, midcentury modern, single-story, courtyard-style, multifamily rental community located in the Biltmore-area of Phoenix, near Phoenix Children’s Hospital, Arizona Heart Hospital, and shops and popular eateries such as Binkley’s, Pa’La Kitchen, Wren House Brewing Company, Whole Foods, Trader Joe’s, Grassroots Kitchen & Tap, Pizzeria Bianco, Snooze, Sage Kitchen and The Parlor.

Biltmore Flats Apartments is a mid-century modern rental community located in Phoenix’s Biltmore Area, east of the SR-51 Piestewa Freeway, west of 24th Street, just north of McDowell Road, along the northwest corner of Palm Lane and 24th Street, allowing easy access to The Shops at Town & Country, Biltmore Fashion Park, the Camelback Corridor, the valley freeway system and numerous employers. The property is a short distance from the Grand Canal, which many people utilize for recreation, including running and biking.

Biltmore Flats @ 24th Street offers style and convenience while raising the bar for urban apartment living in central Phoenix. Developed in 1959, the subject property was fully renovated in 2018, using high-end finishes and updating with modern contemporary design. The unit mix is comprised of eight (8) 1-bedroom / 1-bathroom units of approximately 525 square feet. Interior property upgrades stainless-steel appliance package, stainless steel sinks with garbage disposal and retractable multi-setting faucet, granite countertops, stained concrete floors, porcelain tile shower surrounds with new fixtures, premium lighting, and low-flow toilets. The revamped exterior features gated courtyard, pet friendly accommodations, on-site laundry facilities and covered parking.

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