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Sares Regis Multifamily Investment Management Sells 240-Unit Community In Phoenix For $61.5M
SOLD
$61,500,000
Arizona
See Similar DealsMultiFamily
Sold 07/10/2025
SOLD
Sares Regis Multifamily Investment Management Sells 240-Unit Community In Phoenix For $61.5M
1550 East Campbell Avenue
See Similar DealsMultiFamily
Sold 07/10/2025
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale
The asset involved in this transaction is a 240-unit multifamily community located at 1550 East Campbell Avenue in Phoenix, AZ. The property sold for $61,500,000, translating to a price per unit of $256,250. It features amenities such as a resort-style pool and a fitness center alongside modern interiors.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $61,500,000
- Seller: Sares Regis Multifamily Investment Management
- Brokers: Steve Gebing & Cliff David - Institutional Property Advisors
- Units: 240
- Price Per Unit: $256,250
Sares Regis Multifamily Investment Management conducted the sale with representation provided by Institutional Property Advisors, specifically brokers Steve Gebing and Cliff David. This transaction highlights the involvement of established professionals in the brokerage of multifamily properties.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,280,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$218,496.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$291,541.38
Annual Debt Service$3,498,496.51
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