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  August 23, 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
Greenway Springs
15620 N. 25th Avenue
Phoenix
240
174,336
$24,500,000
$140.53
726 SF
8/19/2019
1975

$102,083
96-1/1's, 80-2/1's, 54-2/2's; M/M; 24% Down; New Loan: Voya Financial; Last Sale: 04/1999 $3,800,000
Coronado
1801 N. 50th Street
Phoenix
13
12,258
$2,013,000
$164.22
943 SF
8/19/2019
1980

$154,846
12-2/1's, 1-3; 20% Down; New Freddie Mac Loan; Last Sale: 9/21/2018 $1,456,000
Beverly Palms
1942 W. Berridge Ln.
Phoenix
12
10,816
$1,600,000
$147.93
901 SF
8/20/2019
1963

$133,333
All 2/1's; Cash Sale; 1031 Buyer; Last Sale: 12/1/2014 $770,000
Alta Camelback
4949 N. 7th Street
Phoenix
237
244,034
$63,800,000
$261.44
1,030 SF
8/20/2019
2018

$269,198
135-1/1's, 21-2/1's, 67-2/2's, 14-3's; 35% Down; New Loan: Met Life; No previous Sale
Vibe on Thomas
2735 E. Thomas
Phoenix
100
60,395
$8,450,000
$139.91
604 SF
8/21/2019
1969

$84,500
37-0/1's, 63-1/1's; M/M; 20% Down; New Loan: Bancorp Bank; Last Sale: 03/2016 $5,025,000
Park Ridge
12211 N. Paradise Village Pkwy. Phoenix
168
112,168
$26,208,000
$233.65
668 SF
8/21/2019
1983

$156,000
108-1/1's, 60-2/2's; 52% Down; New Freddie <Mac Loan; Last Sale: 08/2017 $17,100,000
Mission 66
3001 N. 32nd Street
Phoenix
66
56,994
$10,175,000
$178.53
864 SF
8/21/2019
$154,167
22-1/1's, 44-2/2's; 24% Down; New Loan: Mutual of O,aha Bank; Last Sale: 3/312017 $4,850,000
Agave Court
125 N. 18th St.
Phoenix
64
60,876
$7,350,000
$120.74
951 SF
8/22/20919
2001

$114,844
12-1/1's, 36-2/2's, 16-3's; Partially Affordable; 25% Down; New Loan: Opus Bank; Last Sale: 12/2011 $2,100,000
West View
40 E. Sunland
Phoenix
117
82,700
$11,600,000
$140.27
707 sf
8/23/2019
1988

$99,146
33-1/1'S, 84-2/2'S; 19% Down; New Loan: Berkeley Point Capital; Last Sale: 01/2012
$2,285,000
Remington Ranch
12740 W. Indian School
Litchfield Park
334
303,796
$58,500,000
$192.75
909 SF
8/23/2019
2003

$175,150
162-1/1's, 20-2/1's, 132-2/2's, 20-3's; 17% Down; New Fannie Mae Loan; Last Sale: 10/2004 $31,135,000
Novel Rio
701 W. Rio Salado Pkwy
Tempe
209
252,553
$66,250,000
$262.32
1,208 SF
8/23/2019
2018

$316,986
17-0/1'S, 122-1/1'S, 662/2'S, 4-2/DEN/2; 25% Down; New Loan: NXT Capital; No prior sale
 

Eleven Sales.  All but two were in Phoenix. The market is so strong.  It's really exciting.

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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