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MODE Arcadia, 8-Units | Phoenix Multifamily For Sale

3728 East Monterosa Street, Phoenix, AZ, 85018

MODE Arcadia, 8-Units - Phoenix
MODE Arcadia, 8-Units | Phoenix Multifamily For Sale
Other Parties: Erica Rodgers, Realty One Group, Inc.
Comments: Property had been completely remodeled in 2014. Average Rents at time of sale were $1,175. Vestis Group received 6 offers the first week of the listing. At the sale price of $1,064,800, the actual cap rate was 7.25%. Over the last 12 months, Vestis Group has purchased 8 multifamily apartment communities in the Phoenix area. They are looking to acquire another 7 or 8 projects before the end of the year. http://vestis-group.com/multi-family-residential-investment/
Date: Jul 18, 2014
Transaction Amount: $1,064,800

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