146-unit apartment community sold between San Diego seller and Los Angeles buyer
Cushman & Wakefield announced today the firm has brokered the sale of Mountain View Casitas, a 146-unit apartment community located at 1130 E Grovers Avenue in Phoenix, Arizona. The asset was acquired by by Los Angeles-based Marble Partners Management, LLC for $31.2 million. The seller was San Diego-based MV Casitas, LLC.
David Fogler and Steven Nicoluzakis with Cushman & Wakefield’s Multifamily Advisory Group in Phoenix represented the seller in the transaction.
“Mountain View Casitas provided the buyer the opportunity to acquire a well-located multifamily community that had not been previously renovated. Those types of assets are becoming harder to find in Phoenix”, said David Fogler, Executive Managing Director.
Mountain View Casitas is a well maintained two-story apartment community originally built in the mid-1980s that consists of all two-bedroom / two-bathroom units of 904 and 964 square feet in multiple floor plans. The units feature central air, fully equipped kitchens, private balconies, in-unit washers and dryers, and fireplaces. On-site community amenities include a pool, outdoor seating and a pet play area.
The location provides convenient freeway accessibility close to Loop 101, I-17, and SR-15, as well as transportation services, and is also near parks, shopping, restaurants and other entertainment in the Phoenix area.