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  March 29, 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

544 N. Horne
Mesa
11
8,800
$975,000
$110.80
800 SF
3/25/2019
1983

$88,636
All 2/1's; 54% Down; New Loan: Wash Fed; Last Sale: 02/2014 $520,000
Mountain View on Central - 8818 S. Central Ave., Phoenix
128
58,944
$8,725,000
$148.02
461 SF
3/26/2019
1986

$ 68,164
8-0/1's, 108-1/1's, 12-2/1's; New Freddie Mac Loan; Last Sale: 12/2016 $5,200,000
Verona Park
1666 S. Extension Rd.
Mesa
304 
249,361
$43,740,000
$175.41
820 SF
3/28/2019
1981

$143,882
152-1/1's, 152-2/1's; 32% Down; Assumed & new Fannie Mae Loan; Last Sale: 01/2017 $33,400,000
Edgewater
102 S. 4th Avenue
Avondale
196
148,704
$21,750,000
$146.26
759 SF
3/28/2019
1985

$110,969
40-1/1's, 116-2/1's, 24-2/2's, 16-3's; 23% Down; New Freddie Mac Loan; Part of Portfolio Sale; Last Sale: 06/2014 $10,200,000
Sandal Ridge
645 N. Country Club Dr.
Mesa
196
134,900
$19,900,000
$147.52
688 SF
3/28/2019
1979

$101,531
24-0/1's, 96-1/1's, 28-2/1's, 48-2/2's; 23% Down; New Freddie Mac Loan; Part of Portfolio Sale;  Last Sale: 05/2016 $12,250,000
Terrace Park
8130 W. Indian School
Phoenix
213
171,678
$20,100,000
$117.08
806 SF
3/28/2019
1984

$94,366
16-1/1's, 124-2/1's, 73-2/2's; 29% Down; New Freddie Mac Loan; Part of Portfolio Sale; Last Sale: 03/2017 $14,250,000
Brookside
6131 W. Thomas Rd.
Phoenix
203
141,010
$17,800,000
$126.23
691 SF
3/28/2019
1984

$87,255
17-0/1's, 92-1/1's, 30-2/1's, 64-2/2's; 18% Down; New Freddie Mac Loan; Part of portfolio Sale;  Last Sale: 04/2015 $10,000,000
Marble Creek
5601 W. McDowell road
Phoenix
244
206,080
$21,650,000
$105.06
845 SF
3/28/2019
1985

$88,730
108-1/1's, 48-2/1's, 88-2/2's; 19% Down; New Fannie Mae Loan; Part of Portfolio Sale; Last Sale: 08/2017 $16,750,000
Villa Serena
4221 W.Dunlap
Phoenix
137
108,423
$12,100,000
$111.60
791 SF
3/28/2019
1982

$88,321
63-1/1's, 74-2/2's; Cash Sale; Part of Portfolio Sale; Last Sale: 08/2014 $6,420,000
Urban Trails
1620 W. Southern Ave.
Mesa
156
102,914
$16,400,000
$159.36
660 SF
3/28/2019
1974

$105,128
32-0/1's, 76-1/1's, 48-2/1's; 26% Down; New Fannie Mae Loan; Part of Portfolio Sale;  Last Sale: 01/2017 $13,100,000
Penny Lane
544 E. Southern
Mesa
136
114,824
$14,250,000
$124.10
844 SF
3/28/2019
1985

$104,779
64-1/1's, 72-2/2's; 23% Down; New Freddie Mac Loan; Part of Portfolio Sale; Last Sale: 05/2016 $10,000,000
Montego
949 S. Longmore
Mesa
154
129,760
$18,200,000
$140.26
843 SF
3/28/2019
1979

$118182
30-1/1's, 25-2/1's, 99-3's; Cash Sale; Part of Portfolio Sale; Last Sale: 03/2017 $13,900,000
Flats at San Tan
2550 S. Santan Pkwy.
Gilbert
319
362,701
$71,425,000
$196.93
1,137 SF
3/28/2019
2016

$223,903
209-1/1's, 110-2/2's; 36% Down; New Fannie Mae Loan;  No Prior Sale
Lantana Gardens
4529 W. Ocotillo Rd.
Glendale
120
90,324
$11,550,000
$127.87
753 SF
3/28/2019
1983

$96,250
72-1/1's, 48-2/2's; Cash Sale; Part of Portfolio Sale; Last Sale: 02/2015 $5,100,000
Tierra Santa
4620 W. McDowell
Phoenix
274
159,948
$20,950,000
$130.98
584 SF
3/29/2019
1987

$76,460
32-0/1's, 130-1/1's, 64-2/1's, 48-2/2's; 2% Down; Assumed Loan with Wilmington Trust; Part of Portfolio Sale; Last Sale: 05/2017 $13,400,000
Sunpointe
7077 W. McDowell Rd.
Phoenix
152
123,972
$16,350,000
$131.88
816 SF
3/29/2019
1984

$107,566
64-1/1's, 88-2/2's; 28% Down; Assumed Loan w/Walker & Dunlop; Part of Portfolio Sale; Last Sale: 01/2017 $10,800,000
HUGE PORTFOLIO SALE OF 12 PROPERTIES! 
MORE DETAILS TO FOLLOW.

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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