Updated Dec 21, 2023
ABI Multifamily Brokers Sell Phoenix Multifamily Property For $48M
14020 North Black Canyon Highway, Phoenix, AZ 85053
$48,000,000
$307/SF
Building Size
156,352 SF
Asset Type
MultiFamily
Closing
Dec 30, 2021
About this deal
AI
The multifamily property located at 14020 N Black Canyon Hwy in Phoenix, AZ has been sold for a total of $48,000,000. The transaction took place on December 30, 2021. The property spans across an area of 7.98 acres and offers a total of 203 units. The price per unit amounts to $236,453. With a total square footage of 156,352, the price per square foot comes out to be $307.
Summary of Transation Details
- Property Type: Multifamily
- Transaction Amount: $48,000,000
- Address: 14020 N Black Canyon Hwy, Phoenix, AZ
- Market: Phoenix, AZ
- Acres: 7.98
- Units: 203
- Price Per Unit: $236,453
- Square Footage: 156,352
- Price Per Square Foot: $307
The sale of this multifamily property was facilitated by Alon Shnitzer, Rue Bax, Eddie Chang, and Doug Lazovick from the Institutional Apartment Group at ABI Multifamily. They represented the parties involved in the deal and ensured its successful completion.
On the Map
$48,000,000
$307/SF
MultiFamily
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Players
Phoenix 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
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93