Sunpointe apartments at 7077 W. McDowell Rd. in West Phoenix has been sold for $10.8 million to Janet LePage – Western Wealth Capital. The Canadian investor and syndicator adds this asset to its portfolio of more than 20 apartment properties in the Greater Phoenix area.
“This neighborhood is particularly strong in terms of multifamily occupancy and the Sunpointe property is in excellent condition with opportunity for value-enhancing improvements,” says Bill Hahn, executive vice president with Colliers International in Greater Phoenix.
Hahn, Jeff Sherman and Trevor Koskovich of Colliers International in Greater Phoenix handled the sale transaction. Janet LePage – Western Wealth Capital purchased the community from BH Properties, a private equity company based in Los Angeles.
Sunpointe, which was built in 1984, consists of 10 apartment buildings containing 152 units. The community features a total of 122,232 square feet of space situated on approximately 6.94 acres. The one and two-bedroom apartments offered at Sunpointe were 93% leased at the time of the sale.
Sunpointe is located just west of 67th Avenue, a major north-south thoroughfare in Phoenix. Interstate 10 is conveniently located just south of the property and Loop 101 Highway is less than three miles from Sunpointe. Several nearby shopping centers, schools and medical centers surround the apartment community.