Vestis Group Sells Multifamily Property In Phoenix Arizona

Phoenix – Estates At Midtown Apartments Sell For $1.15 Million

Phoenix – Estates At Midtown Apartments Sell For $1.15 Million

By Editor | Real Estate Daily News

Medlock Manor Apartments, LLC of Mesa Arizona sold the Estates at Midtown Apartments, located at 312 W Medlock Drive, in midtown Phoenix to Property Investors Hub, LLLP from Vancouver, BC for $1,150,000 ($82,143 per unit).

Estates at Midtown Apartments is a 14-unit, garden-style multifamily community located in central Phoenix. Built in 1965, Estates at Midtown has a pitched, composition roof and concrete-block construction, two-level buildings. The unit mix is comprised of two-bedroom / one-bath units of approximately 940 square feet, two-bedroom / two-bath units of approximately 1,050 square feet and three-bedroom / two-bath units at 1,260 square feet. All the units have spacious kitchens and large closets. Common are amenities include a swimming pool, covered parking and laundry facility.

The multifamily property consists of two- and three-bedroom apartments; all had been recently updated  with stained concrete and wood-style flooring, colorful tile backslashes, matching countertops, gourmet kitchens, retro lighting and more. Thirteen of fourteen units were rented at the time of sale.  – more at realestatedaily-news.com

 

5 replies
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