Cooper, Cardinal and Company LLC, a boutique multi-family investment brokerage firm with headquarters in Phoenix, Arizona, recently closed the transaction for Rosalinda Apartments, a 9-unit turn-key multi-family community located in Phoenix, Arizona. The sale price of $545,000 equates to $60,556 per unit or $61.44 per square foot.
Jack A. Cardinal, a Managing Director of the firm, and Jennifer Runyon, an Investment Associate, represented the buyer in the transaction.
“The sellers did a great job stabilizing the property. The asset consists of 80 percent, two bedroom and one bath units; and, all units have washer/dryer in each unit. These two key components are what attracted the buyer to this acquisition.” stated Cardinal.
The 8,870 SF apartment community was built in 1986 on a 0.59-acre lot. Jennifer Runyon added, “Properties like Rosalinda are valuable building blocks for a solid foundation to a successful multifamily portfolio.”