Desert Willow Apartments | 2025 West Indian School Road, Phoenix, AZ 85015 | 280 Units | $20,700,000 | $73,929 Per Unit | $155.28 Per SF
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com
Phoenix, AZ (May 22, 2020) - ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western U.S., is proud to announce the $20,700,000 / $73,929 per Unit / $155.28 per SF sale of the Desert Willow Apartments, a 280-unit property in Phoenix.
Built in 1973 and renovated in 2012, Desert Willow consists of a mix two-bedroom, one-bedroom, and studio unit types. Each unit contains fully equipped kitchens with new appliances, laminate countertops, dark wood cabinetry, and a walk-in closet. The apartment community is full of common area amenities such as two swimming pools, laundry facilities, fitness center, outdoor barbecue, picnic area, playground and a clubhouse.
Desert Willow lies along the major I-17 Employment corridor which is characterized by high-density housing and employment opportunities in addition to centralized location. The property is located minutes from Grand Canyon University, Uptown Plaza, Park Central Mall and the 7th Street Restaurant Row. The location also offers a short drive to Downtown Phoenix and easy access to the I-17.
John Kobierowski, Senior Managing Partner at ABI Multifamily, said “Desert Willow provided a tremendous opportunity for the buyer considering it being well located between the thriving uptown and west Phoenix markets, areas of existing high occupancy rates with strong projections of significant growth in rent and development.”
ABI Multifamily’s Jack Hannum represented the buyer.
The buyer is a Canada-based private investment firm. The seller is an Arizona-based private investor.
ABI Multifamily (http://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Tucson, Sacramento and San Diego, the experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.