ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $3,000,000 / $125,000 Per Unit / $133.98 Per SF sale of Las Palmas Villas, a 24-unit multifamily apartment community located at 890 Poppy Street, Wickenburg, AZ 85390. ABI Multifamily’s John Klocek and Patrick Burch represented the buyer and seller in this transaction.
The buyer is based in Arizona and the seller is based in Montana.
Built in 1984, Las Palmas Villas consists of 22 two-bedroom / one-and-a-half bath units and 2 one-bedroom / one-and-a-half bath units as well as additional land which allows for up to 16 more units to be added. The property has been well maintained and is located minutes from the heart of downtown Wickenburg. The property is also a little over 20 minutes to the massive, 3,500-acre site that BNSF just purchased where they plan to build a logistics park, logistics center, and intermodal facility on the site, which will serve as the rail company’s western hub.
The city of Wickenburg is not far from the Phoenix metropolitan area and sits along the heavily traveled route between Phoenix and Las Vegas. This rural old boomtown of 7,500 people sits 50 miles northwest of Phoenix and is known for its many dude ranches. Each winter, Wickenburg turns into the “Team Roping Capital of the World,” thanks to its plethora of roping venues hosting competitions seven days a week creating an influx of visitors as the population increases with the beautiful weather and many roping events. There is a ton of Western history in the town, and early businesses built beautiful structures along the town’s main historic district that still grace Wickenburg’s downtown area today. The abundant clean air and wide-open spaces attract all kinds of people, with guest ranches offering a unique western experience to tourists. The current popularity of Wickenburg arose through the construction of the Phoenix to California highway (Highway 60), bringing even more tourists, making Wickenburg the Dude Ranch Capital of the World. Today, some of these ranches still offer their unique brand of Western hospitality and are among the reasons True West Magazine recognized Wickenburg among the 10 best Western towns in the country. The Wickenburg of today is a modern town with over 600 businesses providing a full range of accommodations, services, shopping conveniences, specialty shops, and galleries for gifts of western distinction. Through annual events such as Gold Rush Days & Rodeo, and the famous Desert Caballeros (D.C.) Ride, organizations such as the Wickenburg Chamber of Commerce and the Desert Caballeros help Wickenburg preserve the best traditions of the Wild West.