Multifamily advisor and Vice President, Danny Lee never gave up on the possible sale of the 20 unit complex in Phoenix.
Lee worked with the seller for over 18 months empowering his client with the knowledge of market and the seller decided to sell at the right time.
Sierra West Apartments is located at 5160 N. 28th Drive in Phoenix and sold for $1,170,000.
The multifamily complex is only one mile away from Grand Canyon University.
Lee represented the buyer, Eric Guina with Gunits, LLC. out of Telluride, Colorado.
The new owner currently owns another property nearby but has new plans for the complex. He may operate it as a student housing or use this for redevelopment.
This turn-key complex already has a high occupancy rate so the new owner is already in a great position to bring in revenue.