The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 29, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



TEXAS/SOUTHWEST NEWS
Printer-friendly Version   Email an Associate
OC Investor Buys AZ Apartment Community

12/28/12

In a recent multifamily buy from Mesa, AZ, Insite Properties LLC paid $8.65 mil for The Trails East Apartments, a 209-unit ($41.4k/unit) community located at 1653 Harris Dr.

The property, built in 1983, consists of 112 one-bedroom units and 97 two-bedroom units on 10 acres of land. Each unit includes central air, private balcony, patio, and dishwasher. Property amenities include a fitness center, covered parking, playground area for children, two pools, spa and a clubhouse.

The Trails East Apartment property is conveniently located off the 60 Hwy with easy access to the I-10 Interstate.

Tom Papoulias, Executive Vice President with the Commerce office of NAI Capital, represented the seller, Trails East LLC. The buyer was a Newport Beach investor who was able to finance this transaction at a 70% LTV. At the time of sale, the property was 85% occupied.





Return to the Archive page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media