ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $6,765,000 / $165,000 Per Unit / $327.38 Per SF sale of Venture on 19th, a 41-unit multifamily apartment community located in Phoenix, Arizona. The buyer and seller were represented by ABI Multifamily’s Mitchell Drake, Dallin Hammond, and Carson Griesemer. The buyer and seller are based in Arizona.
Built in 1985, Venture on 19th features 41 one-bedroom / one-bathroom units. Interior renovations include vinyl plank flooring, granite countertops, new paint, and more. The property amenities include a community pool, BBQ grill, covered parking, on-site laundry, and balcony decks.
Venture on 19th is centrally located in West Phoenix just minutes from Uptown Plaza and Midtown Phoenix, both which host numerous shops and restaurants. The Uptown Plaza at the intersection of Camelback Road and Central Avenue, hosts desirable destinations such as Postino’s, The Windsor, Federal Pizza, Joyride Taco House, Shake Shack, Lou Malnati’s Pizzeria, and Flower Child among many more. Furthermore, the property is within one mile to the desirable and welcoming Melrose District, an area characterized by boutique bars, shops, and restaurants that include: Copper Star Coffee, Short Leash Hot Dogs & Rollover Doughnuts, Fry Bread House, and Restaurant Progress. In addition, the property is situated near the Black Canyon Highway (Interstate-17), Papago Freeway (Interstate-10), and Piestewa Freeway (State Route 51), making it easy for residents to travel around the surrounding area.
Significant employers in close proximity to the property include the numerous companies located in Midtown, Downtown, and the Camelback Corridor, as well as Banner Health, St. Joseph’s Hospital, U-Haul International, Wells Fargo, and Phoenix Children’s Hospital.
