ABI Brokers $3M Phoenix Sale
- Dec 12, 2017
Wilshire Place, a 48-unit community in Phoenix, changed hands between private investors in a deal brokered by ABI Multifamily. The property traded for a little over $3 million, or $63,542 per unit. It was constructed in 1983 and all units were renovated prior to the transaction.
Wilshire Place is located at 6721 N. 25th Drive. It comprises 24 one-bedroom and 24 two-bedroom units, with an average size of 700 square feet. Renovations included new appliances, maple wood cabinets, granite countertops and vinyl wood plank floors. The courtyard, which features a swimming pool, was also improved.
Neighborhood amenities include multiple schools in the vicinity, shops and restaurants on West Glendale Avenue, about 10 minutes away, as well as a public swimming pool, which can be reached in 15 minutes. A light rail station is situated nearby, facilitating travel throughout the metro area. Additionally, downtown Phoenix is 15 minutes away via Interstate 17, while Phoenix Sky Harbor International Airport is about 20 minutes away.
The team of brokers included Vice Presidents Ryan Smith and Nathan Bruer, Senior Managing Partners John Kobierowski, Alon Shnitzer, Rue Bax, and Partners Eddie Chang and Doug Lazovick. The same team recently facilitated the $3.3 million sale of another apartment community in Phoenix, named Stapley Place.