Cooper, Cardinal and Company LLC, a boutique multi- family investment brokerage firm with headquarters in Chandler, Arizona, represented the Seller and Buyer in the sale of Garfield Commons Apartments, a 9-unit turn-key multi-family community located in Phoenix, Arizona. The sale price of $450,000 equates to $50,000 per unit or $88.24 per square foot.

Jack A. Cardinal, a Managing Director of the firm, represented the Seller and Buyer in the transaction. “The Seller did a great job of updating and then maintaining the property.  The location of this asset where growth and gentrification are happening is what drove/inspired the Buyer to value the opportunity to acquire the community. The property was 90% occupied at the close of escrow.” stated Cardinal.

The 5,100-square foot apartment community was built in 1951 on a 0.33-acre lot. With proper management and continued care, this asset will continue to serve as a steady income producing opportunity.