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Marcus & Milichap Negotiates $10.6M Sale of Verde Vista Apartment Complex in Phoenix

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Located in Phoenix, Verde Vista features 181 apartments, two swimming pools, a children’s playground and covered parking.

PHOENIX — Marcus & Millichap has arranged the sale of Verde Vista, a multifamily property located at 3030 N. 35th Ave. in Phoenix. An out-of-state 1031 exchange investor purchased the asset from an out-of-state limited liability company for $10.6 million, or $58,564 per unit.

Built in 1978 and renovated in 2012, Verde Vista features 181 apartments in a mix of studio, one- and two-bedroom layouts, two swimming pools, a children’s playground and covered parking.

Rich Butler and Reza Ghaffari of Marcus & Millichap represented the seller in the deal.

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