ReNUE Properties Acquires 200-Unit Legacy Bungalows Multifamily Property in Phoenix for $26.1M
PHOENIX — ReNUE Properties has purchased Legacy Bungalows, a multifamily asset located in Phoenix. Legacy Partners sold the community for $26.1 million, or $130,500 per unit.
Completed in 2002, Legacy Bungalows features 200 apartments in a mix of one-, two- and three-bedroom layouts with at least nine-foot ceilings and an average unit size of 852 square feet. The property is situated on 6.4 acres and less than two miles from Chase Field and Talking Stick Resort Arena.
Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.