Marcus & Millichap Sells Brio 14 Multifamily Community In Phoenix For $3.8M

The asset involved in the transaction is Brio 14, a multifamily apartment community located at 2950 North 29th Place, Phoenix, AZ. It was built in 2022 and consists of 14 units, including six one-bedroom and eight two-bedroom units, with an average size of 667 square feet. The sale price for the property was $3,800,000, resulting in a price per unit of $271,429.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,800,000
• Units: 14
• Average Price Per Unit: $271,429
• Address: 2950 North 29th Place
• Market: Phoenix, AZ

The deal was facilitated by brokers Adam Saylor, Darrell Moffitt, and Paul Bay from Marcus & Millichap, who arranged the sale for Brio 14. Their expertise contributed to the successful transaction of this recently constructed apartment community.