Senior Apartment Team

Linda Fritz-Salazar
Associate Broker
Senior Partner
Call 602.989.9487

Jon Coffen
Senior Partner

Call 602.653.3600

 

Weekly Apartment Closing Update through  May 31, 2019


Property Name
Address
City
No Units
SF
Sales Price
Price/SF
Unit SF Avg.
Sale Date
Year Built
Unit
Price
Unit Mix, % Down Payment, Lender; Previous Sale Date and Amount
Plaza Osborn
6557 E. Osborn
Scottsdale
16
9,781
$2,800,000
$286.27
611 SF
5/24/2019
1960

$175,000
3-0/1's, 11-1/1's, 2-2/1's; 41% Down; New Loan: US Bank; Last Sale: 08/2010 $460,000
Sir John's
3141 N. 37th Street
Phoenix
14
11,340
$2,700,000
$238.10
810 SF
5/28/2019
1967

$192,857
All 2/1's; 38% Down; New Loan: Homestreet; Last Sale: 08/2017 $1,484,000
Sunny Brook
138 w. 1st Street
Mesa
103
70,404
$10,800,000
$153.40
684 SF
5/29/2019
1969, 1980

$104,854
10-0/1's, 7-1/1's, 20-2/1's; 11% Down; New Loan: Bridge Inv. Group; Last Sale: 07/2008 $5,225,000
Uptown 68
301-337 W. Pasadena
Phoenix
68
55,306
$9,000,000
$162.73
813 SF
5/29/2019
1958

$132,353
3-0/1's, 27-1/1's, 28-2/1's, 10-2/2's; 55$ Down; New Loan: New York Community; Last Sale: 9/1/2016 $5,306,400
Marq at 1st
625 W. 1st Street
Mesa
164
100,034
$24,000,000
$239.92
610 SF
5/29/2019
1985

$146,341
40-0/1's,18-1/1's, 106-2/2's; 11% Down; New Loan: NXT Capital; Last Sale: 9/30/2016 $17,000,000
La Costa at Dobson Ranch, 1820 W. Lindner
Mesa
194
202,342
$33,750,000
$166.80
1,043 SF
5/30/2019
1979

$173,969
All 2/2's; 34% Down; New Freddie Mac Loan; Last Sale: 03/2016 $19,500,000
400 W. Pasadena
Phoenix
28
20,024
$4,250,000
$212.25
715 SF
5/30/2019
1959

$151,786
8-0/1's, 14-1/1's; Renovated; 30% /down; New Loan: FirstBank; Last Sale: 12/2017 $2,340,000
Arroyo Villas At Maryland Lake
4748 W Sierra Vista Dr
Glendale
196
153,742
$22,500,000
$146.35
785 SF
5/31/2019
1984
$114,796 76-1/1's, 120-2/2's
26% Down New Loan: CIT Bank
Last Sale: Aug 2018
17,640,000
Little Cottonwoods Apartments
1820 E Bell De Mar Dr Tempe
379
420,008
$73,700,000
$175.47
1029
5/31/19
1984
$194,459
51-1/1's, 32-2/1's, 260-2/2's, 36-3/2's, 33% Down,
New Loan: Fannie Mae w/CBRE Capital, Last Sold: May 2016 $56,700,000
Sunshine Apartments
2737 E Glenrosa Ave Phoenix
20
10,332
2,100,000
$203.25
516 SF
5/31/19
1958
$105,000
Last Sale: Feb 2016
From 5 property portfolio
Cosmo Apartments
6542 N 17th Ave Phoenix
16
16,496
$2,300,000
$139.43
1000 SF

5/31/19
1964
$143,750
2-1/1's, 2-2/1'sBds, 2-3's
28% Down, New Loan: Freddie Mac-CBRE Capital, Last Sold: Sept 2017, 1,250,000
Regents Park Apts
1617 E Apache Blvd | Tempe
62
28,476
$5,725,000
$201.05
459 SF
5/31/19
1968
$92,338
20-0/1's, 42-1/1's
30% Down, New Loan: FirstBank
Last Sold: 11/1991 $710,000
Level on 17th
6725 N 17th Ave Phoenix
29
27,283
$4,150,000
$152.11
940 SF
5/31/19
1971
$143,103
1-1/1, 12-2/1's, 16-2/2's
32% Down New Loan Freddie Mac- CBRE Capital, Last Sold:Aug 2018 $3,125,000 
Arcadia Modern
2940 N 40th St Phoenix
27
22,500
$5,167,000
$229.64
726 SF
5/31/19
1963
$191,370
10-1/1's, 16-2/1.5's, 1-3/2
Non-Arms Length - TIC Group Sale; Ownership % change
New Loan: 30% Down Opus Bank
 

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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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