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7/26/24
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KDF Communities paid $12.6 mil for Corona Del Sol, a 64-unit ($197k/unit), garden-style apartment complex in Phoenix. The asset was sold by a private high-net worth seller.
Located at 27 E Corona Ave, Corona Del Sol benefits from excellent freeway and transit access, including easy access to I-17, allowing residents to reach major employment, retail and entertainment areas in the Greater Phoenix Metro Area. Additionally, the community is within walking distance of the future South Central Metro Light Rail Extension and Downtown Hub, further enhancing its accessibility.
Built in 1985, Corona Del Sol comprises primarily two-bedroom floor plans with an average size of 880 sf. All units feature classic finishes and offer the potential for future value-add enhancements. Corona Del Sol is currently 97% leased.
JLL represented the seller and sourced the buyer in the transaction.
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