Taylor Street Advisors sells Uptown Phoenix apartment community
Taylor Street Advisors, a leading commercial real estate investment advisory firm announced the sale of an 8-unit apartment community in Uptown Phoenix. The asset commanded a sales price of $1,200,000 or $150,000 per unit.
Brian Tranetzki, Anton Laakso and Thomas Beniamen of Taylor Street negotiated the transaction on behalf of the seller, a private capital investor and the buyer, an investment group out of Phoenix.
Located at 7265 N 12th Street in Phoenix, AZ and built in 1958, North Central Apartments is an unrenovated apartment community which offers residents a gated property as well as a private pool and picnic area. The property also consists of an attractive unit mix and floorplan with large one-bedroom and two-bedroom units, averaging 841 square-feet.
“Located down the street from Piestewa Peak’s beautiful hiking trails and Arizona’s premier Golf course, the Biltmore Hotel, this property is strategically located to take advantage of Arizona’s best amenities” says Beniamen.
Taylor Street Advisors sets new benchmark for pricing
Taylor Street Advisors announced the sale of Hayden’s Ferry II, a 12-unit townhome community in Tempe, Arizona. The asset commanded a sales price of $2,316,000 or $193,000 per unit, setting a new benchmark for pricing on a per unit basis for unrenovated product in Tempe.
Brian Tranetzki and Anton Laakso of Taylor Street Advisors negotiated on the behalf of the buyer, an out-of-state private investor.
Hayden’s Ferry III located at 720 S Roosevelt Street in Tempe, Arizona has spacious 2-bedroom 2-bathroom floor plans that allow for upside potential through interior & exterior renovations. “The property provided a unique opportunity for an investor to acquire an asset that was previously owned since the early 1990’s in a booming downtown Tempe market.” said Laakso.
“With a location directly west of Mill Avenue off Broadway St., and within walking distance of Arizona State University the property produced many qualified investors to bid for the asset. The winning bidder plans to hold the property long term and upgrade the units over time,” adds Tranetzki.
Taylor Street Advisors sells manufactured housing communities
Taylor Street Advisors announced the sale of 95 N Sky Run Ln, the Sky Run Resort and 16050 N Church St, the Mi Casa Mobile Home Park. Sky Run, a 25-unit manufactured housing community in Payson sold for $1,675,000 or $67,000 per pad and Mi Casa, a 53-unit manufactured housing community in Surprise closed at $1,7000,000 or $32,075 per pad.
Brian Tranetzki and Anton Laakso represented the buyer for the Sky Run Resort and both the buyer and seller for the Mi Casa Mobile Home Park. Tranetzki and Laakso, who spearhead the Phoenix multifamily team for Taylor Street Advisors have sold 20% of all mobile home park transactions in the Phoenix area for 2020.
“Manufactured Housing has become an increasingly popular asset class in the Phoenix MSA and state of Arizona due to the higher cap rates, lack of affordable housing, and less maintenance with a lot of tenants owning their own units,” said Laakso.
Taylor Street Advisors sells The V on 26th Apartments
Taylor Street Advisors announced the sale of The V on 26th Apartments, an 11-unit apartment complex located in the Biltmore area of Phoenix. The asset commanded a sales price of $1,930,00 or $175,455 per unit.
Brian Tranetzki and Anton Laakso had the exclusive listing and negotiated the transaction on behalf of the seller, a local investor, and the buyer, a syndicator located in Phoenix.
The property is located at 4241-4246 N 26th Street in Phoenix, Arizona. Built in 1962, The V is comprised of recently remodeled 1 bed and 2-bedroom apartment homes. All units were renovated in 2018 with polished concrete floors, stainless steel appliances, granite counter tops, shaker cabinets, custom tile backsplashes, new bathroom vanities, in-suite washer dryers, and oversized sliding glass patio doors. “Given its location in the Biltmore, this was truly a trophy asset,” said Tranetzki.