ABI Multifamily Closes North Tempe Apartment Complex Set for Redevelopment near ASU/Light Rail

PHOENIX - Aug. 16, 2016 - PRLog -- ABI Multifamily, Arizona's largest locally operated dedicated multifamily brokerage and advisory services firm, is pleased to announce the $1,650,000 sale of the Evergreen Village Apartments, a 14-unit apartment community located in Tempe, Arizona.

Evergreen Village Apartments is a two-story apartment community comprised of three (3) contiguous parcels and built in 1983.  The property consists of all (14) 2-bed/2-bath units with an average size of 900 square feet.  Each unit is individually metered for electricity and equipped with frost-free refrigerators, stove and hood.  Built of frame/stucco construction, the property had undergone select exterior capital expenditures.

"Evergreen Village is located less than a ¼ mile from ASU's main campus and Light Rail," states Royce Munroe, Vice President at ABI and Buyer Rep.  "Given the tremendous economic activity occurring within the North Tempe/University submarket as a whole and the property's close proximity to those main economic epicenters, attracted the Buyer to this particular asset.  The Buyer intends to completely renovate and reposition the property moving forward."

The Seller was a private multifamily partnership based out of Arizona.

The Buyer was a private multifamily partnership based in Arizona.

The Phoenix based ABI Multifamily (http://www.abimultifamily.com) brokerage team of Royce Munroe, John Klocek, Patrick Burch, Ryan Smith and Nathan Bruer represented the Buyer in this transaction.

ABI Multifamily 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.