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  November 2, 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
Villa North Condos
3111 E. Clarendon Ave.
Phoenix
10
6,623
$1,390,000
$209.87
662
10/29/2018
1981

$139,000
All 2/2's; 8% Down; New Loan: Seattle Funding; Last Sale: 05/2005 $862,500
Davenport
FKA: Mill Pointe & 201 West, 4130 S. Mill Ave., Tempe
441
346,024
$55,500,000
$160.39
785 SF
10/30/2018
1973, 1979

$125,850
36-0/1's, 136-1/1's, 103-2/1's, 156-2/2's; 14% Down; New Loan: C-III Capital; Last Sale: 09/2015 $34,600,000
Flower
3208 E. Flower St.
Phoenix
22
16,018
$2,675,000
$167.00
728 SF
10/31/2018
1986

$121,590
All 2/2's; 17% Down; New Loan: Seattle Funding Group; Last Sale: 06/2012 $775,000
Northern Palms
2835 W. Northern Ave.
Phoenix
49
29,708
$3,410,000
$114.78
606 SF
10/31/2018
1954

$69,592
48-1/1's, 1-3; M/M; 23% Down; New Loan: Scott Gould; Last Sale: 07/2017 $3,125,000
Mountain View
1703 W. Mountain View
Phoenix
16
9,151

$975,000
$106.55
572 SF
10/31/2018
1982

$60,938
8-1/1's, 8-2/1's; 25% Down; New Loan: KS State Bank; Last Sale: 05/2016 $830,000
Decco 109
109 E. Broadway
Tempe
40
30,147
$4,800,000
$159.22
754 SF
11/1/2018
1965

$120,000
14-1/1's, 26-2/1's; 25% Down; New Loan: FirstBank; Last Sale: 08/2015 $4,250,000
Icon on Central
77 W. Coolidge
Phoenix
120
92,430
$16,440,000
$177.86
770 SF
11/2/2018
1974

$137,000
18-0/1's, 58-1/1's, 44-2/2's; M/M; 24% Down; New Fannie Mae Loan; Last Sale: 02/2017 $12,050,000

Well, looks like we're not the only ones seeing and sensing a slow down in Metro Phoenix Apartment sales.  CoStar gave their Multi-Family update presentation last week for both the National and Phoenix markets.  Numbers for Metro Phoenix show 70 sales in Q1, 90 sales in Q2, 91 sales in Q3 and 18 sales in October, that would project to 54 sales in Q4.  Hope everyone voted!!



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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