Marcus & Millichap Arranges $14.7M Sale of Avenue 15 Apartment Complex in Phoenix
PHOENIX — Marcus & Millichap has facilitated the sale of Avenue 15, an apartment community located at 1609 W. Glendale Ave. in North Central Phoenix. A private investor sold the property to an undisclosed buyer for $14.7 million.
Built in 1972, the 148-unit property underwent a reassembly campaign in 2017 and a condominium conversion approximately 12 years ago. Avenue 15 features 28 two-bedroom/one-bath apartments, 66 two-bedroom/two-bath units and 54 three-bedroom/two-bath apartments.
Pete Te Kampe of Marcus & Millichap’s Phoenix office represented the seller, while Karl Abert of Kidder Mathews represented the buyer in the transaction.