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11/27/18
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Zen Senior Living, a 99-unit, two-story, garden-style complex in Phoenix, traded hands for $11.95 mil ($120.7k/unit). The property, located at 11645 N. 25th Place, was purchased by Investment Concepts Inc, of Orange County.
Zen Senior Living offers one- and two-bedroom floor plan options averaging 846 sf in size. Built in 1985, the property recently went under a $1.6 mil renovation with upgrades made to the common areas and the interior of 82 units.
The unit upgrades include state-of-the-art appliances, full size washer/dryer, bamboo wood flooring, private balconies/patios, spacious closets and pantries. The common area enhancements included upgrades to the leasing center, clubhouse, fitness center and signage. Other features include valet trash service, pool and spa, dog park, library and covered parking.
Jim Crews with Cushman & Wakefield represented the seller, FPA5 Paradise Village LLC, an entity of San Francisco-based FPA Multifamily.
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