ABI Multifamily Brokers High End Biltmore Area Complete Townhome Project for $230,623 Per Unit

PHOENIX - Aug. 11, 2016 - PRLog -- ABI Multifamily, Arizona's largest dedicated multifamily brokerage and advisory services firm, is pleased to announce the $4,382,000 / $230,623 Per Unit sale of the Monterosa Villas Townhomes, a high end completely intact 19-unit townhome rental community completed in 2013, located in Phoenix, Arizona.

"Monterosa Villas is a very well located property in Phoenix's much sought after East Camelback Submarket and just south of the Biltmore/Camelback Employment Corridor.  The Biltmore/Camelback employment corridor is home to thousands of high paying jobs and is one of the most prestigious business locations in the Valley.  Heck, our (ABI Multifamily) office headquarters is located in the Biltmore/Camelback corridor," states Alon Shnitzer, Senior Managing Partner and lead broker representing the Seller in this transaction.  "This is a 19-unit townhome rental property that is still 100% intact with all the units, which is rare to find in Phoenix.  Comparable properties were challenging to identify. We're talking about an all 3 bedroom, 2.5 bath with attached direct access garage townhome community, with private backyards that average over 2,300 square feet."

Situated just east of the SR-51, Monterosa Villas Townhomes is a two-story townhome community which rests on 1.39 acres of land and was completed in 2013 of wood frame and stucco.  The property consists of all 3-bedroom, 2.5-bath units with an average size of 2,306 SF.  Each unit is individually parceled.  All units feature Class A finishes such as walk-in closets, built-in shelving, crown molding, granite counter tops, hardwood/tile flooring and high ceilings.  Additionally, all units feature an in-unit, full-size washer/dryer and attached oversized two-car garage. The community is also fully gated and features a sparkling pool and spa.

"The Buyer was drawn to Monterosa Villas for a number of reasons," states Eddie Chang, Partner at ABI and lead broker representing the Buyer in this transaction.  "It's at the forefront of Phoenix's urbanization and within walking distance to Phoenix's financial district in the Camelback Corridor.  It's also within walking distance to the recently renovated Biltmore and Town & Country Shopping Centers and just a 10 minute drive from the Midtown/Downtown Phoenix corridors which have exploded in new job growth over the past several years.  Additionally, the Buyer had previous experience with condo sales and liked the opportunity to sell individual units in the future.

The San Diego-based Seller, Pacifica Companies, is an experienced multifamily real estate developer/investor with holdings throughout the United States, Latin America and India.

The Buyer is a private investor based in California.

The Phoenix based ABI Multifamily brokerage team of Eddie Chang, Alon Shnitzer, John Kobierowski, Rue Bax and Doug Lazovick represented both the Buyer and the Seller in this transaction.

ABI Multifamily (http://www.abimultifamily.com) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. The experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.