Updated Apr 13, 2026
Aspen Grove Circle Lofts, LLC Acquires Multifamily Asset In Scottsdale For $10.275M
1401 North Granite Reef Road
$10,275,000
Units
20
Asset Type
MultiFamily
Closing
Mar 26, 2026
About this deal
AI
A 20-unit multifamily property located at 1401 North Granite Reef Road in Scottsdale, AZ was sold for $10.275 million, translating to $513,750 per unit. This transaction reflects the property’s significant market value within the region.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $10,275,000
- Buyer: Aspen Grove Circle Lofts, LLC
- Seller: Caliber Companies
- Brokers: Karl Abert & Bret Zinn - Kidder Mathews
- Units: 20
- Price Per Unit: $513,750
This sale marked the highest per-unit price in the Phoenix metro area for sub-100-unit multifamily assets in two years, underscoring the current strength of the market. Kidder Mathews facilitated the transaction, representing the seller in the deal.
Players
Scottsdale MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.54%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93