February 5, 2012


Recent Sales Of Small Multifamily Properties In Phoenix

Sales of multifamily properties in Greater Phoenix have been brisk.  74 properties sold in November 2011 which is oddly exactly the same number of sales as in 2010.

There are 265 active properties for sale on December 2nd 2011. Important to note is that many of these have been on the market a long time. 140 of them have been on the market 90 days or more, which means that these don’t match up with the demands of buyers either by condition, price, or location and are really not part of the market.

Multifamily sales in November 2011 (only ARMLS)

Sold Price Street Number Compass Street Name City/Town Code
90000.00 2424 E AMELIA Phoenix
102300.00 2223 W Dora Mesa
90000.00 1715 W colter Phoenix
90000.00 532 S MESA Mesa
49000.00 430 Camino Hombre De Oro Rio Rico
117900.00 3441 N 37TH Phoenix
85000.00 1640 W MULBERRY Phoenix
125000.00 8339 W SANTA CRUZ Arizona City
142500.00 685 W RAY Chandler
200000.00 6155 E GREENWAY Mesa
119000.00 5964 S ALHAMBRA Gold Canyon
52000.00 1457 E POLK Phoenix
138000.00 5965 E NORLAND Mesa
43500.00 1224 N 49TH Phoenix
68000.00 138 E INGRAM Mesa
145000.00 2506 N DAYTON Phoenix
39000.00 10042 N 8TH Phoenix
135000.00 6214 N 14TH Phoenix
418000.00 2205 S MILL Tempe
22000.00 414 W 9TH Casa Grande
37900.00 239 W ELM Coolidge
142500.00 699 W RAY Chandler
14000.00 9208 W ADAMS Tolleson
45500.00 1950 E HARVARD Phoenix
438000.00 2610 E Monte Vista Phoenix
74700.00 5113 N 28TH Phoenix
29000.00 721 W CHERYL Phoenix
54000.00 2441 E WOOD Phoenix
23000.00 3752 E POLK Phoenix
35000.00 10331 W CENTURY Arizona City
110000.00 5936 W ALICE Glendale
36850.00 3317 W JEFFERSON Phoenix
97000.00 1131 W DRUMMER Mesa
37000.00 2635 W MORTEN Phoenix
85000.00 2528 W BELMONT Phoenix
155000.00 406 N HILL Mesa
28200.00 9019 N 10TH Phoenix
81000.00 4711 E CAMINO Mesa
50000.00 2619 E PORTLAND Phoenix
50000.00 2617 E PORTLAND Phoenix
110000.00 3345 W HARMONT Phoenix
160000.00 1002 N COLORADO Casa Grande
99900.00 1753 E HARVARD Phoenix
82100.00 4426 E CONTESSA Mesa
108000.00 4614 E CABALLERO Mesa
150000.00 6702 E MONTEREY Scottsdale
175000.00 6702 E AVALON Scottsdale
110000.00 4310 N 23RD Phoenix
115000.00 1520 W mulberry Phoenix
357500.00 4145 N LONGVIEW Phoenix
178000.00 16033 N 25TH Phoenix
150000.00 1328 W COCHISE Phoenix
127000.00 260 W 8TH Mesa
182950.00 6634 E Avalon Scottsdale
70000.00 10208 N 9TH Phoenix
70500.00 492 W 18TH Apache Junction
25000.00 1942 E SHERIDAN Phoenix
47000.00 735 W 1ST Mesa
70000.00 16802 N 26TH Phoenix
32000.00 301 E PURDUE Phoenix
45000.00 9802 N 18TH Phoenix
207000.00 1649 E OAK Phoenix
150000.00 425 N HILL Mesa
90000.00 847 W RAY Chandler
20300.00 231 N THUNDERBIRD Apache Junction
11700.00 1525 E SUNNYSIDE Phoenix
950000.00 1050 S STAPLEY Mesa
12000.00 3212 W MADISON Phoenix
15000.00 3216 W MADISON Phoenix
45000.00 2150 W MISSOURI Phoenix
39000.00 532 N DREW Mesa
85000.00 1317 N 48TH Phoenix
33516.00 2541 E CORONA Phoenix
36500.00 2841 W MELVIN Phoenix

 

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Phoenix Arcadia Four-plexes Just Sold

2 sold fourplexes in Arcadia Lite area in Phoenix

Two more premium fourplexes have been sold by inPhoenix Realty Group. The small to medium multifamily market in Phoenix is increasingly lacking in inventory and obtaining good properties is very difficult.

It takes a lot of persistence to get a property under contract as there are many investors pursuing investments.

These two properties sold for $195,000 and $210,000 which is consistent with the market for these types of properties in the premium segment, of which, few hit the market.

They tend to have a high demand location, which Arcadia is, a low vacancy factor and stability.

We’re glad our clients were able to obtain such nice properties to add to their portfolio.

Recent Small Multifamily Sales In Greater Phoenix

There is not doubt about the active small multifamily market in Greater Phoenix. Investors are out there looking for a limited amount of properties.

Inventory of 2-4 unit apartments is about half that of last year and investor activity is up.

As of this post there are 142 active 2-4 unit apartment for sale in Maricopa County ranging from a triplex for $24,600 to an overpriced fourplex at $375,000 which has been on the market forever.

In the last 30 days.

51 properties sold.

Top 5 Multifamily Sales

  • 4352 N. 36th St. 4 units at $215,000
  • 2109 W. Colter Ave. 4 Units at $189,000
  • 4356 N. 36th St. 4 Units at $184,000
  • 401 W. 5th St in Tempe. 4 Units at $177,000
  • 1146 E. 2nd in Mesa. 4 Units at $165,000

30 properties are AWC – mostly short sales.

62 properties are Pending – indicating that the next 30-45 days will have high sold numbers.

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  • four unit for sale in phoenix arizona