ABI Multifamily sells Monterosa Villas in Biltmore area for $6.95M
ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western U.S., announced the $6,947,500 / $365,658 per Unit / $158.55 per SF sale of Monterosa Villas, a 19-unit garden-style property in Phoenix.
Built in 2013, Monterosa Villas consists of 19 individually parceled townhomes. All townhomes feature a three-bedroom / two-and-a-half-bathroom unit type with an average size of 2,306 SF. Each unit includes a two-car direct-access garage and a full-size washer and dryer. The property’s community amenities feature secure gated access and a refreshing pool area.
This townhome community is nestled in a prime Arcadia-adjacent location near The Biltmore, Uptown Phoenix, and the 24th Street and Camelback corridor, which presents a vast amount of entertainment, shopping, and dining options. The location also includes easy access to the AZ-51 and is a short drive to Phoenix Sky Harbor International Airport and the vibrant Downtown Phoenix area.
“The Monterosa Villas is a unique, boutique core-plus asset in the highly desirable Biltmore area that proved to be an all-around fantastic transaction for both buyer and seller,” says ABI Multifamily Partner Eddie Chang.
ABI Multifamily’s Eddie Chang, John Kobierowski, Alon Shnitzer, Rue Bax, and Doug Lazovick represented the seller. The buyer is a California-based private investment firm. The seller is a California-based private investment firm.