FOR IMMEDIATE RELEASE – July 15, 2021
VESTIS GROUP COMPLETES 7-UNIT BULK CONDO SALE IN SCOTTSDALE, ARIZONA | LINCOLN GARDENS
Vestis Group completed the sale of 7-Units (bulk condos) of Lincoln Gardens Condominium, located at 6480 N 82nd St, Scottsdale, AZ 85250, for $1,740,200 or $248,600 per unit.
(Phoenix – July 15, 2021) – Vestis Group, a multifamily brokerage and investment firm, is pleased to announce the sale 7-Units (bulk condos) of Lincoln Gardens Condominium, located at 6480 N 82nd St, Scottsdale, AZ 85250, for $1,740,200 or $248,600 per unit. The Phoenix based Vestis Group multifamily brokerage team of Natan Jacobs and Matt Morrell negotiated the transaction on behalf of the seller, a private investor from Newhall, California. The buyer, a 1031 exchange investor from Scottsdale, Arizona, was represented by Daniel Goldfarb and Christa Lawcock of Realty Executives.
“We received multiple offers on this Scottsdale multifamily rental portfolio,” says Natan Jacobs, Principal at Vestis Group and the lead broker for this transaction, “The sellers ultimately chose to work with a local buyer who was inside of a 1031 exchange and ultimately paid cash for the asset.”
The 7-unit value-add rental portfolio sale was comprised of seven 2-bed/2-bath units of approximately 1,110 square feet, inside Lincoln Gardens, an 80-unit condominium community resting on approximately 3.75 acres in Scottsdale, AZ, just south of McCormick Ranch. The community was built in 1984 and the exterior was updated in 2021. All units have a full size washer and dryer, dishwasher, self-cleaning oven, and huge pantries. Second story units boast cathedral ceilings with skylights and first story units have sunken living rooms. All units have private balconies, along with extra storage. The community contains a swimming pool, spa, and full covered parking. Nearby attractions include Chaparral Park, The Pavilions at Talking Stick, Old Town Scottsdale and Scottsdale Fashion Square.
Vestis Group is the broker of choice for individuals and institutions investing in multifamily residential and commercial real estate throughout Metropolitan Phoenix. Our advisors assist clients in the acquisition and disposition of multifamily investment and retail investment assets, including, apartments, bulk condo packages, duplex/triplex/fourplex properties, single-family rental portfolios (SFR Portfolios), income producing single-family investment properties, neighborhood strip centers, retail power centers, retail strip centers, neighborhood grocery, retail PAD and retail shopping centers. In the field of housing, Vestis Group’s principals have developed, built, rehabilitated, constructed, improved, managed, and sold thousands of apartments units, condos, single-family homes and home sites.
About Vestis Group
Vestis Group is a leading Multifamily Investment sales and Advisory Services firm with a proven track-record of providing value added brokerage services coupled with innovative and ongoing real estate investment strategies.
We specialize in Phoenix Apartments For Sale.
Our mission is to ensure that owners and investors receive the most efficient research, marketing, real estate consultation and transaction services available. We pride ourselves on our ability to deliver added value to our clients by building uncompromising and long-lasting relationships with our partners.
Vestis Group serves multifamily owners and investors with a full suite of commercial real estate services, including Buyer Representation, Tenant Representation, Project Marketing & Sales, Asset Management, Project & Development Services, Research and Consulting.
For more information, please visit: www.Vestis-Group.com.