Updated Oct 14, 2025
Far Western Properties And Dorn Properties Acquire Parkway Apartments In Phoenix For $4.5M
5407 West Glenrosa Avenue
$4,500,000
Units
36
Asset Type
MultiFamily
Closing
Oct 13, 2025
About this deal
AI
The property asset involved in this transaction is a 36-unit multifamily complex located at 5407 West Glenrosa Avenue in Phoenix, AZ. It was sold for a total price of $4,500,000, translating to a price per unit of $125,000.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $4,500,000
- Units: 36
- Price Per Unit: $125,000
- Buyer: Far Western Properties & Dorn Properties
- Seller: Parkway Apartments LLC
- Brokers: Brian Smuckler & Derek Smigiel - JLL
This transaction was facilitated by Brian Smuckler and Derek Smigiel from JLL, who represented Parkway Apartments LLC in this sale, highlighting their role in the successful arrangement of this multifamily property deal.
On the Map
$4,500,000
MultiFamily
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Phoenix MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93