Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Dolce Villagio, a 37-unit apartment community in Tempe, Arizona. The sales price is $10 million, which equates to $270,270 per unit.
“Dolce Villagio delivers sophisticated living in an unparalleled location surrounded by innovative academic institutions, award-winning retail districts, and one of the fastest growing business communities in the country,” says Cliff David, senior managing director. “Tempe exemplifies Arizona’s blossoming economy and growing reputation as a place where new technology and businesses thrive”
Developed in 2007, Dolce Villagio offers two- and three-bedroom townhomes with a weighted average unit sizes of 1,410-square feet. Amenities include granite countertops, full-size stainless-steel appliances, and recessed lighting.
David, Steve Gebing, senior managing director, and Brady Fish, associate, represented the seller, Western Wealth Capital, and procured the buyer, Dolce Villagio I, LLC and Dolce Villagio II, LLC.