Montebello Apartments sell for $1.15M
ABI Multifamily , a multifamily brokerage and advisory services firm , announced the sale of the Montebello Apartments located in north central Phoenix for $1,150,000, which reflects a price of just over $67,600 per unit. Constructed in 1964, the property is located just north of Phoenix’s Historic Districts along Central Avenue. The low density, single story property consists of 17 block constructed, individually metered apartments with a mix of one, two and three bedroom units. Common area amenities include a swimming pool, laundry facility and lush open areas with patio space for residences on just over an acre of land. The Montebello was partially renovated with interior upgrades such as granite countertops, tiled floors, new cabinetry and washer/dryer hookups. The buyer was attracted to the property’s location, which is surrounded by custom homes and within walking distance of a popular dining destination , The Yard, by renowned restauranteur Sam Fox , and a new mixed us...