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Marcus & Millichap, a commercial real estate brokerage firm, announced the sale of Concept, 7464 N. 43rd Ave., in Glendale.
The 52-unit apartment property sold for $9,750,000.
“Located in east Glendale, Concept at 43rd Avenue is well-positioned to provide easy access to historic Glendale, Interstate 17 and Grand Canyon University,” Darrell Moffit, senior vice president investments in Marcus & Millichap’s Phoenix office, stated in a news release. “The community offers large two-bedroom units, two-car garages, washer/dryers and patios. New ownership will have the opportunity to execute a programmatic renovation of unit interiors to experience a favorable premium.”
The seller and the buyer were both private investors, according to Marcus & Millichap.
