On the Market: This Week’s 5 Most Interesting CRE Listings
Check out this week's most interesting CRE listings across the country.
On the Market is a new department curating the week’s most interesting 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 Mallory Bulman, Associate Editor.
Apex off 7th Street
Location: Phoenix, Ariz.
Offering Price: $6.4 million
Price/Unit: $61,538
Price/SF: $95.81
Units: 104
Year Built: 1980
Features: Repositioning opportunity; mix of one-bedroom/one-bath and two-bedroom/two-bath units; units individually metered for electricity; offered all cash/new loan; location in heart of 7th Street and Camelback/Central Corridors
Contact: Alon Shnitzer, ABI Multifamily, 602-714-1283
Monterosa Villas Townhomes
Location: Phoenix, Ariz.
Offering Price: $5.25 million
Price/SF: $119.99
Units: 19
Year Built: 2013
Features: Individually parceled townhomes; all three-bedroom, two-and-a-half-bedroom unit types; two car direct access garage and full-size washer/dryer in each unit; offering price 20 percent less than estimated retail value of units and replacement cost; available all cash/new loan.
Contact: Alon Shnitzer, ABI Multifamily, 602-714-1283
932 W. Diversey
Location: Chicago, Ill.
Offering Price: $1.95 million
Gross SF: 5,400
Units: 4
Year Built: 2010
Features: One commercial unit, three residential; 6 percent cap in core Lincoln Park location; condo quality finishes; 50 feet from Diversey ‘L’ Stop; parking included.
Contact: The Kiser Group, 773-293-5000
Lemon Avenue Property
Location: Long Beach, Calif.
Price: $3.6 million
Price/Unit: $150,000
Units: 24
Building Size: 15, 896 SF
Built: 1963
Highlights: Garage and tuck under parking; one-, two- and three-bedroom units; 5.7 percent cap rate; individually metered units.
Contact: Chris Walker, Investment Property Group, 949-756-3232
Sierra Oaks
Location: Turlock, Calif.
Price: $41.5 million
Price/Unit: $196,682.46
Building Size: 254,099 SF
Year Built: 2008
Units: 211
Highlights: Unit mix of 5 percent studios, 19 percent one-bedroom units and 76 percent two-bedroom units; community amenities include a resort-style swimming pool, hot tub, grilling areas, a clubhouse with a fireplace and full-sized kitchen, a controlled main entry access gate, a TV/theater lounge, billiard and game room, fitness center, video library, social room, covered parking, and 24-hour on-site maintenance; 3 percent average vacancy rate; assumable interest-only loan.
Contact: Robin Kane, Berkadia Real Estate Advisors, 559-761-0020
