Marcus & Millichap Negotiates $2.6M Sale of Apartment Building in Downtown Tempe

TEMPE, ARIZ. — Marcus & Millichap has arranged the sale of an apartment building located at 407-419 W. Seventh St. in Tempe.

An out-of-state 1031 exchange investor acquired the property from a local limited liability company for $2.6 million, or $184,557 per unit. The property features 14 apartment units.

Rich Butler of Marcus & Millichap represented the seller and buyer in the transaction.