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MULTIFAMILY NEWS
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Private Investors Trade Phoenix Multifamily Property in $18.25 Mil Deal

12/22/20

Vesta on 12th, a 104-unit apartment community in Phoenix’ Uptown neighborhood, was purchased by a private investor out of Denver for $18.25 mil, or $175.5k per unit. The property was sold by a Portland, OR-based private investor.

Located at 6333 N. 12t St, Vesta on 12th is a garden-style community featuring a majority of two-bedroom/two-bathroom floor plans averaging 950 sf in size. Community amenities include a laundry facility, swimming pool, clubhouse, business center, fitness center, picnic area with barbeque, covered parking and gated access.

The community is located within several miles of State Route 51 and Interstate 17 and the Biltmore/Camelback Corridor, one of the premier office submarkets in metro Phoenix.

Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of CBRE in Phoenix represented the seller in the transaction. The team also represented the buyer in the 1031-exchange.





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