Monterosa

Monterosa | Phoenix Multifamily Real Estate Investments

Monterosa

PROPERTY INFO

Monterosa Apartments is a charming mid-century, one story, courtyard-style, community located in the Arcadia neighborhood, near boutiques and popular eateries such as The Vig ArcadiaLa Grande Orange GroceryPostino WineCafeBeckett’s TableCrudoNookChelsea’s Kitchen and North Italia. Built in 1964 and renovated in 2013, Monterosa Apartments is comprised of 2 two-bedroom / two-bathroom units of approximately 875 square feet, 4 two-bedroom / one-bathroom units of approximately 850 square feet and 2 two-bedroom / one-bathroom units of approximately 800 square feet. The buildings are constructed of block with flat roofs. Amenities include in-suite washer & dryer, grilling station, bocci ball court, pool, desert landscaping and covered parking. The property is individually metered for electricity and master metered for water. The property owner is responsible for the cost of water, sewer, and trash pickup, and the residents are responsible for the cost of electricity in their units, including the cost of heating and air conditioning.

PLAN

BUY - Purchased for $395,000 on 7/8/2013.

FIX - Renovated the Arcadia area community with high-end contemporary finishes inside and out, with improvements totaling $275,000. Lease up completed in 45 days. Increased average rents from $628/month to $1,175/month. Listed property for sale at $1,075,000. Received six offers during the first week of marketing.

SELL - Sold for $1,064,800 on 7/18/2014

LEASING INFORMATION

MODEapts.com

PHOTOS

AFTER

Phoenix Multifamily Real Estate Investments Phoenix Multifamily Real Estate Investments Phoenix Real Estate Investments By Vestis Group | Vestis Capital LLC Phoenix Multifamily Real Estate Investments | Vestis Group  Phoenix Arizona Investment Real Estate | Vestis Group Phoenix Arizona Multifamily Investment Real Estate Phoenix Arizona Multifamily Real Estate Investing | Vestis Group      Phoenix Multifamily Real Estate Investments | Vestis Group Phoenix Multifamily Real Estate Investments | Vestis Group   Phoenix Multifamily Real Estate Investments | Vestis Group  Phoenix Multifamily Real Estate Investments | Vestis Group   Phoenix Multifamily Real Estate Investments | Vestis Group Vestis Group Phoenix Arizona Investment Real Estate 

 

BEFORE

Phoenix Multifamily Real Estate Investments         

 

VESTIS GROUP | PHOENIX MULTIFAMILY INVESTMENT | AZ INVESTMENT REAL ESTATE

Vestis Group | Vestis Capital LLC is a real estate firm focused on Multi Family Residential Investment. We invest our clients’ capital together with our own to take advantage of opportunities with attractive risk-return attributes and an expectation of above-market returns. These goals are achieved through stringent underwriting practices and proactive property and asset management.

Through our extensive knowledge of the Phoenix multi-family residential real estate market, we can identify early trends, which provide insight into our pursuit of investment opportunities. Vestis Group’s principals have a thorough knowledge of the housing industry.

We have developed, built, rehabilitated, constructed, improved, managed and sold thousands of apartments, condos, homes, and home sites. Vestis Group principals and affiliates also have extensive experience constructing, improving, renovating, owning and operating residential and commercial properties. Our expertise in management, finance and construction is the backbone supporting every investment opportunity we identify.

For more information, please contact Vestis Group at 602-281-6202 or Email Us.

 

Trackbacks & Pings

  • Vestis Group Buys And Sells Multifamily Properties Worth $1.9 Million :

    [...] Monterosa Apartments is an 8-unit, garden-style multifamily community located in the sought after Arcadia neighborhood of Phoenix, near the Arizona Biltmore, Biltmore Fashion Park and Camelback Corridor. Built in 1964 and renovated in 2014, Monterosa Apartments is comprised of 2 two-bedroom / two-bathroom units of approximately 875 square feet, 4 two-bedroom / one-bathroom units of approximately 850 square feet and 2 two-bedroom / one-bathroom units of approximately 800 square feet. The buildings are constructed of block with flat roofs. Amenities include in-suite washer & dryer, grilling station, bocci ball court, pool, desert landscaping and covered parking. The property is individually metered for electricity and master metered for water. The property owner is responsible for the cost of water, sewer, and trash pickup, and the residents are responsible for the cost of electricity in their units, including the cost of heating and air conditioning. [...]

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