In March, Alliance Residential purchased Tempe Station apartments for $110,000,000 — or $275,000 per unit.
March 27, 2023
Tempe Station apartments sell for $110 million
Alliance Residential has purchased Tempe Station apartments for $110,000,000 — or $275,000 per unit. The multifamily community is located at 2323 E. Apache Blvd., Tempe.
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The 400-unit apartment complex features 19 three-story residential buildings totaling 378,994 square feet. The community was built in 2000 on 18.47 acres. The last known unit mix was: 192 1Bd/1Ba (854 SF), 132 2Bd/2Ba (1,159 SF), 76 3Bd/2Ba (1338-1441 SF). The complex also features two pools and in-unit washer and dryer.
The seller was Kennedy Wilson Multifamily.