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Weekly Apartment Closing Update through  February 2, 2 018


Property Name 
Address, City
Units Size 
(SF)
  
Sales Price
Price/SF
Ave. Unit
Size
Sale Date
 Year Built 
Price/
Unit
Comments 
Optima Sonoran Village
6895 E. Camelback
Scottsdale
592
532,758
$210,395,000
$394.92
900 SF
1/30/2018
2013

$355,397
54-0/1's, 275-1/1's, 221-2/2's, 42-3's; Main Principal in New Entity; New Loan for $100M from N/Western Life Ins.
Mission Palms
6131 N. 16th Street
Phoenix
125
104,061
$16,000,000
$153.76
832 SF
1/31/2018
1975

$128,000
50-1/1's, 75-2/2's; 25% Down; New Loan: FirstBank; Last Sale: 04/2011 $6,250,000
Ranch at Midtown
110 - 122 W. Maryland
Phoenix
32
27,744
$3,770,000
$135.89
867 SF
1/31/2018
1957

$117,813
20-1/1's, 12-2/2's; 46% Down; New Loan: Opus Bank; Last Sale: 05/2014 $2,560,000
Casa West
4029 W. McDowell
Phoenix
32
24,799
2,892,137
$116.62
775 SF
1/31/2018
1968

$90,379
1-1/1, 31-2/1's; Cash Sale; Last Sale: 5/5/2016 $700,000; Same Day Flip
Casa West
4029 W. McDowell
Phoenix
32
24,799
$3,450,000
$139.12
766 SF
1/31/2018
1968

$107,813
Cash Sale - See Above
Mode at 10th Street
4140 N. 10th Street
Phoenix
10
7,272
$1,341,840
$184.52
727 SF
1/31/2018
1963

$134,184
All 1/1's; Renovated in 2017; New Fannie Mae Loan; Last Sale: 09/2016 $425,000
Cielo
8222 N. 19th Avenue
Phoenix
360
213,528
$27,220,000
$127.48
593 SF
1/31/2018
1980

$75,611
108-0/1's, 184-1/1's, 12-2/1's, 56-2/2's'
Twillingate
7141 N. 19th Ave.
Phoenix
52
40,400
$4,220,000
$104.46
777 SF
1/31/2018
1973, 1978

$81,154
32-1/1's, 20-2/1's; 36 of 52 Units M/M; 35% Down; New Loan: Latitude Mgmnt. R.E. Inv.; Last Sale: 6/2016 $3,200,000
Villa Ventura
7125 N. 19th Ave.
Phoenix
50
45,500
$4,500,000
$98.90
910 SF
1/31/2018
1970

$90,000
All 2/1's; 33% Down; New Loan Latitude Mgmnt. R. e. Inv; Last Sale: 08/2015 $3,197,500
Tempe North
1855 E. Don Carlos Ave., Tempe
56
42,900
$7,000,000
$163.17
766 SF
2/1/2018
1987

$125,000
52-2/1's, 4-3/1.5's; 31% Down; New Loan: Opus Bank; Last Sale: 09/2015 $4,185,000
Maryland Palms
2507 W. Maryland
Phoenix
22
14,838
$1,125,000
$75.82
674 SF
2/2/2018
1966

$51,136
1-0/1, 19-1/1's; Cash Sale; Last Sale: 1/2003 $885,000; Same Day Flip
Maryland Palms
2507 W. Maryland
Phoenix
22
14,838
$1,463,000
$95.60
2/2/2018
1966

$66,500
18% Down; Private Lender; See above; 

2928 W. Orangewood
Phoenix
11
9,145
$620,000
$67.80
2/2/2018
1940,
1965

$56,364
Mix Unknown; 20% Down; New Loan: Active Funding; Last Sale: 05/2017 $312,225
 
LOTS OF CLOSINGS AT MONTH END.  FROM A HIGH AT OPTIMA AT $395/SF TO A WEEKLY LOW ON WEST ORANGEWOOD AT $68/SF.


Data Source: CoStar, BREW, Vizzda plus personal information

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About Us 
The Kasten Long Commercial Group has specialized in apartment brokerage in metro Phoenix since 1998. Our agents have brokered more than 1,000 communities with gross sales in excess of 1 billion dollars.

Kasten Long Commercial Group

5110 N 40th Street, Suite 110 Phoenix, AZ 85018
Designated Broker - Jim Kasten, CCIM
602 445 4113 office - 602 677 0655 cell
Jim@KLCommGroup.com

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