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California Investor Pays $4.1 Mil for West Valley Complex

PEORIA, AZ-A Menlo Park, CA private investor spends $41,000 per unit for the 100-unit Land Pointe Apartments in the far West Valley. Seller R. Blake Johnson Jr. LLC has been unloading its Arizona holdings and redirecting the proceeds to buys in Washington state.

By D.J. Burrough | Updated on September 19, 2001

PEORIA, AZ-A California investor has purchased a 100-unit complex in Peoria, a Phoenix suburb in the far West Valley.

Private investor Dianne M. Kern of Menlo Park has spent $4.1 million for the Land Pointe Apartments, situated at 11600 N. 75th Ave.. The sale price equates to $41,000 per unit for seller R. Blake Johnson Jr. LLC of Honolulu, HI.

Land Pointe is a 16-year-old property. The complex is at the northwest corner of 75th and Peoria avenues in the heart of Peoria. The Agua Fria Freeway section of the Loop 101 is about two miles to the west. Nearby amenities include Glendale Community College, ASU West campus and the American Graduate School of International Management.

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