ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, announced the $4,100,000 / $98.21 Per Land SF sale of The Phoenix on Willetta, a land deal located at 102 East Willetta Street, Phoenix, AZ 85004. ABI Multifamily’s Patrick Burch and ABI Multifamily’s Phoenix-based Institutional Apartment Group Alon Shnitzer, Rue Bax, Eddie Chang, and Doug Lazovick represented the Seller in this transaction.
The buyer is based in Arizona and the seller is based in California.
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The Phoenix on Willetta is a prime development opportunity in the heart of Downtown and Midtown Phoenix. The site is located right off Central Avenue, a block away from the nearest light rail station, across the street from the Phoenix Burton Barr Library, and within walking distance to both the Phoenix Art Museum and Margaret T. Hance Park. Additionally, this opportunity is only a few minutes to the I-10 freeway, just more than a mile to the Phoenix Stadium District, and a short bike ride/walk to the Downtown Arizona State University campus, as well as Roosevelt Row.
The site is approximately 0.95 net acres and 1.95 gross acres (using the city calculation that includes to the centerline of the abutting right of way) based on a recent ALTA Survey. The Phoenix on Willetta site has very broad downtown zoning that allows for a number of uses. The zoning and the area would support market rate condos, for-sale condos, mixed-use, hotel, retail, office, etc. Located between 1st and 2nd street running along the north side of Willetta Street, the development site is surrounded by some of the most desirable locations in Phoenix
ABI Multifamily (https://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Tucson, Sacramento, and San Diego, the experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.