Medlock West Apartments | Phoenix, AZ
Phoenix, Arizona – August 27, 2020 – Multifamily sales is no stranger to SVN Desert Commercial Advisors in Phoenix led by Investment Sales Advisor, Danny Lee. Lee has closed over $20M in multifamily to date this year and has been named to the TOP 100 advisors by SVN International Corp. for his top sales.
His recently sale with SVN co-brokers, Justin Horwitz and Paul Borgesen III sold for $3,975,000 in Phoenix. The property is located at 320-330 W. Medlock Dr. in Phoenix. The 20-unit multifamily complex sold at $198,750 per unit which is $184/SF. The vintage mid-century design, a mixture of one, two and three-bedroom units will be receiving some new upgrades with the new owner.
Lee stated, “The Buyer and Seller were diligent to move the transaction during the pandemic.” The sale for the out-of-state buyer was also a 1031 exchange investment as part of a strategy to add a well-known property. SVN advisor, Justin Horwitz stated, “This transaction was a prime example of how SVN advisors can collaborate internally to best service our clients and their assets.”
SVN | Desert Commercial Advisors is a full-service commercial real estate services firm providing comprehensive expertise in investment brokerage, leasing, landlord/tenant representation, analysis/valuation, and market research. We specialize in multifamily, retail, office, medical/dental, and restaurant property types. Visit our website at www.SVNDesertCommercial.com for more information.
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Media Contact: Melissa Swader
melissa.swader@svn.com
