614 - 616 North 10th Avenue | 614 - 616 North 10th Avenue, Phoenix, AZ 85007 | 8 Units | $2,080,000 | $260,000 Per Unit | $384.83 Per SF
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com
Phoenix, AZ. (February 19, 2024) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $2,080,000 / $260,000 Per Unit / $384.83 Per SF sale of 614 - 616 North 10th Avenue, an 8-unit multifamily apartment community located in Phoenix, Arizona. ABI Multifamily's Dallin Hammond, Mitchell Drake, Carson Griesemer, Tom Palestina, Andrew Arambula, and Bryce Neagle represented the seller in this transaction.
The buyer and seller are based in Arizona.
Built in 1936 and 1954, 614- 616 North 10th Avenue is an 8-unit, garden-style, boutique apartment community located in Downtown Phoenix. The property features (5) one-bedroom / one-bathroom units, (2) two-bedroom / one-bathroom casitas, and (1) two-bedroom / two-bathroom unit with an average size of 676 SF. Renovated in 2023, the interior features an open concept living room and kitchen, with grey shaker-style cabinetry, wood-style vinyl-plank flooring, stainless steel appliance packages, modern doors, contemporary black hardware and plumbing fixtures, quartz countertops, and tile showers and kitchen backsplash. Each unit also features a full-size, in-suite front loading stackable washer and dryer. Exterior improvements include a re-roof, new facia, dual pane Low-E windows, new smooth synthetic stucco, new HVAC, and underground plumbing. The property has been fully landscaped with modern pavers, artificial turf, lush plants, a new drip system, and landscape lighting.
614- 616 North 10th Avenue is located just east of 7th Avenue and Grand Avenue in the booming Triangle District, a hotspot for local artists, restaurants, and shops. The property is also minutes away from the Footprint Center (home of the Phoenix Suns), Chase Field (home of the Arizona Diamondbacks), as well as Arizona State University Downtown Campus.
ABI Multifamily (https://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Las Vegas, San Diego, and Tucson, 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.