Private investor John Gimbel III, a San Mateo, CA-based investor, has purchased the Hermitage East Apartments, a 95-unit complex at 8021 E. Osborn Road in Scottsdale, $4.885 million. The sale price equates to $51,421 per unit.
The complex is just east of Hayden Road, one of the main thoroughfares through Scottsdale, and just less than a mile from downtown Scottsdale.
The property had been owned for 27 year by a group of private investors from Willmette, IL.
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