ABI Multifamily brokers 59-unit Midtown apartment community for $21.5 million

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PURE Midtown
ABI Multifamily announced the $21,538,462 sale of PURE Midtown, a 59-unit multifamily apartment community located in Phoenix, Arizona.

ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $21,538,462 / $365,059 per unit / $421.81 per square foot sale of PURE Midtown, a 59-unit multifamily apartment community located in Phoenix, Arizona. ABI Multifamily’s Phoenix-based Institutional Apartment Group – Alon Shnitzer, Rue Bax, Eddie Chang, and Doug Lazovick represented the seller in this transaction.

The buyer is based in Arizona and the seller is based in Illinois.

PURE Midtown is a luxurious class “A” mid-rise apartment community constructed in 2018. The property consists of a balanced mix of two-bedroom / two-bath, one-bedroom / one-bath, and studio unit types. The modern interior finishes include stainless steel appliances, granite countertops, wood-vinyl flooring, washer / dryer, patio / balcony, walk-in closets, and vaulted ceilings. PURE Midtown offers residents an array of state-of-the-art amenities, including a resort-style pool with spa, 24-hour fitness center with free weights, a relaxing roof top deck, garage, elevator, and a welcoming clubhouse.

An abundance of dining and entertainment options are just a 10-minute drive away at Uptown Plaza at the intersection of Camelback Road and Central Avenue where residents have convenient access to 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. The nearby 7th Street Restaurant Corridor also offers iconic dining options such as: Culinary Dropout, Bevvy Uptown, MORA Italian, Spinato’s Pizzeria, Taco Guild, & Gadzooks Enchilada & Soup.

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, JP Morgan Chase, and Phoenix Children’s Hospital.