Escondido Apartments | 4422 North 36th Street, Phoenix, AZ 85018 | 75 Units | $16,000,000 | $213,333 Per Unit | $375.59 Per SF
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com
Phoenix, AZ. (August 29, 2024) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $16,000,000 / $213,333 Per Unit / $375.59 Per SF sale of Escondido Apartments, a 75-unit multifamily apartment community located in Phoenix, Arizona. The Buyer and Seller were represented by ABI Multifamily's Phoenix-based Institutional Arizona Team - Alon Shnitzer, Rue Bax, Eddie Chang, and Doug Lazovick.
The Buyer and Seller were based in California.
Built in 1979, the Escondido Apartments features a total of 75 single-story, low-density units with pitched roofing, resting on approximately 2.42 acres of land. The property features a unit mix of 12 studio units and 63 one-bed / one-bath units with a weighted average of 568 SF. Each unit is individually metered for electricity and features individual hot water heaters and HVACs. Residents enjoy access to community amenities such as: Swimming pool, courtyard areas with barbecue grills, on-site laundry facility, fitness center, pet park and amazon hub package center.
The property sits less than two miles from the Biltmore area, eight miles northeast of Downtown Phoenix, and is located within the choice Arcadia Lite neighborhood with direct access to a multitude of local upscale dining options such as Buck & Rider, Steak 44, Flint by Baltaire, The Gladly, and The Henry. Residents enjoy a premium, central location with direct access to all areas of Phoenix by way of Interstate 10, Loop 202, and State Route 51. Immediate neighborhood conveniences and services include Walgreens, AJ’s Fine Foods, Fry’s Food and Drug, Target, Costco Wholesale, CVS Pharmacy, and Chase Bank.
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.