On the Market: 5 Interesting Listings for the Week of 5/22
This week's listings range from a townhouse in trendy North Hollywood, Calif., to a student housing asset located near the University of Alabama, the largest university in the state.
On the Market is a weekly department curating the most interesting recent for-sale CRE assets. If you have a commercial real estate asset that you’d like to share with our readers, please email it to Associate Editor Mallory Bulman.
Pierson Palms Apartments
Location:Â Phoenix, Ariz.
Price: $2.4 million
Price/Unit: $120,000
Price/SF: $144.69
Units: 20
Features: Unit mix consists of six one-bedroom/one-bathroom, nine two-bedroom/one-bathroom and five three-bedroom, two-bathroom apartments; located less than a third of a mile from two light rail stations; recent renovations include new windows, landscaping, pool and interiors; located within walking distance to uptown plaza and Central & Camelback; units individually metered for electricity.
Contact:Â John Klocek, ABI Multifamily, 602-344-9258
The Bluff at WaterWorks Landing
Location:Â Tuscaloosa, Ala.
Units:Â 162
Beds: 308
Rentable SF: 187,128 SF
Avg, Unit Size: 1,155 SF
Features:Â Located a half mile from the University of Alabama; large floor plans with average rents of $115/bed; additional 11 acres of land enables owner to build on one of the only riverside development opportunities in the submarket; located one half mile to the largest university in the state via onsite Crimson Ride shuttle.
Contact:Â Ryan Lang, ARA Newmark, 512-637-1296
Vaughn Manor
Location:Â Gilbert, Ariz.
Price: $6.8 million
Units:Â 38
Price/Unit: $180,000
Price/SF: $157.07
Features: Value-add opportunity via interior and exterior renovations; walking distance from shopping and dining Heritage District; all units have three bedrooms and two bathrooms as well as a full-size washer and dryer; rental demand in area expected to increase.
Contact:Â Eddie Chang, ABI Multifamily, 602-714-1398
Verse La Mesa
Location: La Mesa, Calif.
Units:Â 133
Total SF: 107,725
Avg, Unit Size:Â 810 SF
Features:Â Apartments feature fully-equipped kitchens, air conditioning and heating, walk-in closets and balconies or patios; community amenities include a fire pit with lounge seating, carports, swimming pool, spa, fitness center, barbecue area, picnic area, on-site management, pet friendly and close to a park.
Contact:Â Shane Shafer, Berkadia, 949-223-0876
5000 Block Fulcher Ave.
Location:Â North Hollywood, Calif.
Price: $1.9 million
Units: 3
Price/Unit: $633,000
Building Size: 4,673 SF
Year Built: 2017
Features: Property is currently under construction with completion expected in September 2017; property consists of a detached front house and a rear duplex with townhouse-style units; all units have high-quality finishes, private laundry rooms, open floor plans and modern kitchens; located in North Hollywood Arts District within walking distance from shopping, arts, entertainment, dining and nightlife.
Contact:Â Seth Hamilton, Streetlamp Properties, 714-397-6077
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