July 29, 2020
Monterosa Villas, a 19-unit garden-style property in Phoenix’s Biltmore area, has traded hands for $6.95 million. The deal works out to about $365,000-per-unit. The buyer was an unnamed California-based private investment firm.
Built in 2013, the property consists of individually parceled townhomes that feature either a three-bedroom or two-and-a-half-bathroom unit type with an average size of 2,306 square feet. Each unit includes a two-car direct-access garage and a full-size washer and dryer. Community amenities include secure gated access and a refreshing pool area.
ABI Multifamily’s Eddie Chang, John Kobierowski, Alon Shnitzer, Rue Bax, and Doug Lazovick represented the seller an unnamed California-based private investment firm.
Chang says, “The Monterosa Villas is a unique, boutique core-plus asset in the highly desirable Biltmore area that proved to be an all-around fantastic transaction for both buyer and seller.”
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