Haven, a 16-unit Phoenix apartment near Maryland and Central Avenues, sold for $2,463,158 or $153,947 per unit, according to Marcus & Millichap, the firm that worked on the deal.
The apartments were updated in 2016, and are located in the Uptown Phoenix corridor at 6501 N. 3rd Avenue, Phoenix, Ariz.
Brian Tranetzki and Rich Butler, multifamily investment specialists in Marcus & Millichap’s Phoenix office had the exclusive listing and negotiated the transaction on behalf of the seller, a local private capital investment partnership and the buyer, an out-of-state 1031 Exchange investor.
The property has 825-square-foot two bedroom one bath apartments with private patios or balconies and in unit washer and dryers, Tranetzki said.
He adds, the remodels include new appliances, stainless steel sinks, new countertops with glass tile backsplash, ceiling fans and slate-plank style vinyl floors. New windows and sliding doors were added.
The area is full of historic homes and is along Third Avenue, which has a bike path running down to Downtown Phoenix.