Topp Corp Acquires Marlowe Apartment Complex In Phoenix For $8.44M

The Marlowe, a 53-unit apartment complex located at 2950 N 46th Street in Phoenix, Arizona, has been sold for $8.44 million. The sale was facilitated by Institutional Property Advisors (IPA), a division of Marcus & Millichap.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $8,440,000
• Address: 2950 N 46th Street
• Market: Phoenix, AZ
• Buyer: Topp Corp
• Seller: Living Well Homes
• Broker: Paul Bay, Darrell Moffitt, Cliff David & Steve Gebing - Marcus & Millichap
• Units: 53
• Price Per Unit (PPU): $159,245

The Marlowe apartment complex, consisting of 53 units, was successfully sold by IPA. Paul Bay, Darrell Moffitt, Cliff David, and Steve Gebing from Marcus & Millichap represented both the buyer, Topp Corp, and the seller, Living Well Homes, in this transaction.