Montecito Apts LLC Sells Multifamily Property In Phoenix, AZ For $22.3M

The multifamily property located at 1301 E Mountain View Rd in Phoenix, AZ was recently sold in a transaction. The property consists of 92 units, with a per unit price of $242,391. The total sale price for the property was $22,300,000. The seller of the property was Montecito Apts LLC, and the transaction was facilitated by the broker Northmarq.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $22,300,000
• Address: 1301 E Mountain View Rd, Phoenix, AZ
• Units: 92
• Per Unit Price: $242,391
• Seller: Montecito Apts LLC
• Broker: Northmarq

The sale of this multifamily property demonstrates the active real estate market in Phoenix, AZ. The involvement of Northmarq as the broker indicates the professional representation that both the buyer and the seller had in this transaction. Overall, this deal highlights the demand for multifamily properties in the Phoenix market.