The Priest 10 | 405 South Priest Drive & 1325 West 4th Street, Tempe, AZ 85281 | 10 Units | $1,810,000 | $181,000 Per Unit | $258.06 Per SF
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com
Phoenix, AZ. (March 26, 2024) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $1,810,000 / $181,000 Per Unit / $258.06 Per SF sale of The Priest 10, a 10-unit multifamily apartment community located in Tempe, Arizona. The buyer was represented by ABI Multifamily's Bryce Neagle, Andrew Arambula, and Tom Palestina. ABI Multifamily's Colin Kreager represented the seller in this transaction.
The buyer is based in Arizona and the seller is based in California.
Built in 1961, The Priest 10 is a 10-unit property situated on three contiguous parcels in Tempe, AZ. The property features (2) 4-plexes consisting of (4) 1-bed / 1-bath units each and (1) duplex consisting of (2) 2-bed / 1-bath units with an overall average of 701 SF. The three buildings are comprised of block construction and pitched roofs and are situated on 0.51 acres of land.
This property is situated less than two miles from downtown Tempe and Arizona State University’s Tempe campus where more than 50,000 students are enrolled. The Priest 10 is conveniently located less than a five minutes’ drive from major fairways Loop-202, SR-143, and I-10 in addition to Phoenix Sky Harbor International Airport. Area residents enjoy easy access to shopping at Whole Foods and frequenting the restaurants, bars and entertainment options located in the Mill Avenue district of North Tempe. Significant employers in proximity to the property include State Farm, Medtronic, Amazon, ADP, First Solar, Wells Fargo, 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.