A Phoenix apartment complex is under new ownership.
Real estate brokerage firm Marcus & Millichap announced Wednesday the sale of Desert Green, a 16-unit apartment property. The asset sold for $3.2 million.
“Located in a rapidly improving North Phoenix submarket, approximately one mile from both Paradise Valley Community College and State Route 51, Desert Green is well positioned for future rent growth and demand,” Paul Bay, Marcus & Millichap’s Phoenix office senior vice president investments, shared in a press release.
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REAL ESTATE
16-unit Phoenix apartment complex sells for $3.2M
(Photo provided by Marcus & Millichap)
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Special to Independent Newsmedia
A Phoenix apartment complex is under new ownership.
Real estate brokerage firm Marcus & Millichap announced Wednesday the sale of Desert Green, a 16-unit apartment property. The asset sold for $3.2 million.
“Located in a rapidly improving North Phoenix submarket, approximately one mile from both Paradise Valley Community College and State Route 51, Desert Green is well positioned for future rent growth and demand,” Paul Bay, Marcus & Millichap’s Phoenix office senior vice president investments, shared in a press release.
The firm’s Phoenix office had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also procured by Marcus & Millichap.
Desert Green is located at 16243-16401 N. 31st St.
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