ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $3,525,000 / $146,875 Per Unit / $245.41 Per SF sale of Palmilla Apartments (510 East Hatcher Road, Phoenix, AZ 85020), a 24-unit multifamily apartment community located in Phoenix, Arizona. The Buyer was represented by ABI Multifamily’s DallinHammond, Mitchell Drake, and Carson Griesemer. ABI Multifamily’s Royce Munroe represented the Seller in this transaction.
The buyer & seller are based in California.
Built in 1985, Palmilla Apartments is 24-unit apartment community comprised of 12 one-bedroom / one-bath units and 12 two-bedroom / one-bath units. Each unit is individually metered for electricity and were remodeled in 2012/2013 with updated cabinets and ceramic tile flooring. Community amenities include a BBQ area with benches and tables and an on-site laundry facility as well as beautiful mountain and views.
Situated just north of the popular North Central Corridor and roughly three miles from both the I-17 and the SR-51 Freeways, residents enjoy direct access to all areas of the Phoenix Metropolitan area for employment and work opportunities. In addition, the Phoenix Light Rail is minutes away with the nearest station within a bike ride’s distance while also being within walking distance to a Fry’s Food and Drug grocery store and the award-winning John C. Lincoln Hospital and Medical Center. The North Central Corridor has become one of the most highly desirable areas to live in the Phoenix Metroplex and features one of the finest school districts in the state with Sunnyslope Elementary and Sunnyslope High School both within one mile of the property. Palmilla Apartments is two blocks off 7th Street and just three miles north of the famed Restaurant Row area.