ABI Multifamily Brokers $49.7M Sale of Apartment Property in Phoenix

PHOENIX — ABI Multifamily has arranged the sale of Dimension on 27th Apartment Homes in Phoenix. An Arizona-based seller sold the asset to a California-based buyer for $49.7 million, or $191,346 per unit.

Built in 1982, the property features 23 residential buildings offering a total of 260 units in a mix of studio, one-bed/one-bath and two-bed/one-bath layouts with stainless steel appliances, vinyl wood flooring and a patios/balconies. Common area amenities include a swimming pool, playground, laundry facilities and onsite maintenance.

Alon Schnitzer, Rue Bax, Eddie Chang and Doug Lazovick of ABI Multifamily’s Phoenix-based Institutional Apartment Group represented the buyer and seller in the deal.