Marcus & Millichap Arranges Sale Of 139-Unit Apartment Building
Marcus & Millichap Real Estate Investment Services announced the sale of Country Gables, a 139-unit apartment property in Glendale, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $6.5M.
Cliff David, Steve Gebing and Rich Butler, all vice president investments in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, The Delaware Nadler Company, LLC.
“Country Gables is an extremely well-maintained apartment community located approximately one mile north of Banner Thunderbird Medical Center, serving as the largest private employer in Glendale with nearly 2,900 employees.” David said.
“The subject property also benefits from close proximity to a number of other dynamic employment alternatives including the corporate headquarters of Vensoft Inc., ASU West, the Thunderbird School of Global Management, Midwestern University, Glendale Community College, Arrowhead Hospital, Honeywell, Humana Healthcare, and USPS Encoding Center, collectively demonstrating the breadth of the local job economy.”
Country Gables is at 15010 N. 59th Ave. in Glendale. The physical improvements include either stacked or full-sized washer/dryer connections, ceiling fans, walk-in closets, and private patios or balconies with designated storage space.
Second floor apartment interiors also feature vaulted ceilings. Community amenities include a heated resort-inspired swimming pool and spa, multiple barbecue grills, covered parking, and an on-site laundry facility.
Recent capital improvement projects have totaled nearly $300,000 to include new foam/composite shingle roofs, exterior paint, sealcoat and re-striped parking lot, several new air conditioning units, landscaping enhancement projects, and exterior lighting upgrades.