Senior Apartment Team
Linda Fritz-Salazar
Associate Broker


Call 602 759 1204


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Scott Trevey, CCIM
Senior Associate


Call 480 205 0862


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Weekly Apartment Closing Update through  October 12, 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
Mountain View Square
1145 E. Mountain View
Phoenix
70
38,041
$4,425,000
$116.32
543 SF
10/10/2019
1984

$63,214
50-1/1's, 20-2/1's; Fully Affordable; 25% Down; New Loan: NY Community Bank; Last Sale: 06/2013 $2,100,000
Melrose Flats
806 W. turney Ave.
Phoenix
12
7,285
$1,875,000
$257.38
607 SF
10/9/2018
1956

$156,250
10-1/1's, 2-2/2's; Totally Renovated; 42% Down; New Loan: Pacific Premier Bank; Last Sale: 03/2014 $562,500
Sedona Ridge
5010 E. Cheyenne Dr.
Phoenix
250
24,518
$42,800,000
$190.63
898 SF
10/12/2018
1988

$171,200
118-1/1's, 118-2/2's, 14-3/2's; 26% Down; New Freddie Mac Loan; Last Sale: 02/2013 $27,114,987
Beverly Palms
1942-2014 W. Berridge
Phoenix
18
15,000
$2,475,000
$165.00
833 SF
10/12/2018
1961

$137,500
4-1/1's, 7-2/1's, 7-3's; 38% Down; New Freddie Mac Loan; Last Sale: 05/2016 $1,305,000

Maricopa County tops the list of desirable places to relocate with a 221,000 net population increase via domestic migration between 2012 and 2017.   The median household income in the Phoenix area is around 63,000, only about $3,000 less than that in Los Angeles metro ($66,000). Meanwhile, the rent is $1,000 per month cheaper in Phoenix.

(Article originally posted on AZ Big Media on 10/15/2018)



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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