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PHOENIX — Marcus & Millichap has arranged the sale of Agave, a multifamily property located at 6801 N. 17th Ave. in Phoenix. A private investor acquired the asset for $2.5 million in an all-cash transaction. The name of the seller was not released.
Built 1966, Agave features 11 apartments, including seven completely renovated units, one lightly renovated unit and three unrenovated units. Additionally, eight units have private back patios.
Paul Bay of Marcus & Millichap’s Phoenix office represented both parties in the transaction. Jonathan Weir and Stefan Ignjatovic of Marcus & Milichap’s South Bay office referred the buyer in the deal.