North Phoenix Apartments Sell for $8.54 Million to Oregon Buyer

The 146-unit apartment community, Valle Cita
Gardens, 2311 E. Union Hills Dr., Phoenix, sold recently to an Oregon-based
investment entity for $8,535,000 or $58,458 per door.

Braun Todd
Lee & Associates Principal Todd Braun negotiated the multifamily
transaction on behalf of both buyer and seller. Reliance Residential,
West Linn, Oregon was the buyer, while Paso Robles, LLC of Phoenix
was the seller.
Built in 1985, Valle Cita Gardens sits on 4.6 acres and offers
individually-metered studio, one and two-bedroom apartments in a
garden style setting. The gated community features a pool and spa,
laundry facilities, walk-in closets, storage units and fi replaces in selected
units.
The complex is conveniently located close to area shopping and the
Loop 101 and SR-51 freeways in the North Valley.

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