Senior Apartment Team
Linda Fritz-Salazar
Associate Broker


Call 602 759 1204


Email
Scott Trevey, CCIM
Senior Associate


Call 480 205 0862


Email
Weekly Apartment Closing Update through  December 14, 2018



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
Arbors at 5th
805 W. Brown Street
Tempe
200
146,520
$27,500,000
$187.69
733 SF
12/12/2018
1966

$137,500
24-0/1's, 36-1/1's, 64-2/1's, 76-2/2's; 11% Down, New Loan: MF1 Capital; Last Sale: 07/2016 $21,300,000

5925 E. University Dr.
Mesa
22 of 55
16,129
$1,600,000
$99.20
733 SF
12/12/2018
1984

$72,727
Mix Unknown;
29% Down; New Loan: Opus Bank; Last Sale: 08/2002 $1,000,000
809 @ The Park
809 E. Vogel Ave.
Phoenix
26
17,314
$1,950,000
$112.63
666 SF
12/12/2018
1969

$75,000
10-1/1's, 16-2/1's; Cash Sale; Last Sale: 12/2002 $1,100,000
Hayward
2049 W. Hayward
Phoenix
16
11,302
$1,616,000
$142.98
706 SF
12/12/2018
1985

$101,000
1-0/1, 14-2/1's, 1-3; 81% Down; New Private Loan; Last Sale: 03/2016 $1,150,000
Village at Lakewood
15815 S. Lakewood Pkwy W., Phoenix
240
212,141
$40,300,000
$189.97
884 SF
12/13/2018
1989

$167,917
92-1/1's, 120-2/2's, 28-3's; 11% Down; New Loan: IDA Bonds; Last Sale: 03/2013 $25,018,000
Fairmount 31
3127 E. Fairmount Ave.
Phoenix
24
19,200
$4,550,000
$236.98
800 SF
12/14/2018
1963

$189,583
2-1/1's, 20-2/1's, 2-3's; 30% Down; Newly Renovated; New Freddie Mac Loan; Last Sale: 04/2017 $2,208,000
Wilshire Place
6725 N. 25th Drive
Phoenix
48
32,096
$3,700,000
$115.28
669 SF
12/14/2018
1983

$77,083
24-1/1's, 24-2/1's; 30% Down; New Freddie Mac Loan; Last Sale: 12/2017 $3,050,000
Highland Park
5038 S. Hardy Drive
Tempe
276
246,891
$39,980,000
$161.93
895 SF
12/14/2018
1981

$144,855
128-1/1's, 40-2/1's, 88-2/2's, 20-3's; 32% Down; Portfolio Sale; New Freddie Mac Loan; Last Sale: 06/2016 $26,100,000
Park View
1235 W. Baseline Road
Tempe
196
164,557
$27,320,000
$166.02
840 SF
12/14/2018
1983

$139,388
88-1/1's, 36-2/1's, 60-2/2's, 12-3's; 30% Down; Portfolio Sale; New Freddie Mac Loan; Last Sale: 06/2016 $16,850,000
Looks like 2018 is going to finish strong.  Strong week (strong) year for Tempe.  Also, we are still seeing lots of interest in properties to renovate.  Markets that may have been overlooked are now catching on.  We are seeing activity in Sunnyslope and the West Valley.  We are looking for a strong 2019.

Data Source: CoStar, BREW, Vizzda plus personal information

Map of Available Apartments
We keep track of all apartments advertised. The interactive map shows the location and amount of units. Please check out our interactive map or for more details or contact us at 602 677 0655.

 
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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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