PHOENIX-In a deal too good to pass up, a Denver investor has put down more than $6.1 million in cash to buy an 186-unit apartment complex in North Phoenix that could turn a handsome profit on resale.

The Palm Aire apartments at 6241 N. 27th Ave. sold to investor Cal Zeff for $33,000 a unit, about $10,000 per unit less than its expected resale price, Insignia/ESG managing director Brad Goff tells GlobeSt.com.

“The property was in great shape and it sold for a great price,” Goff says. “The price per pound was there. I think it will sell in the $40,000s per unit to the next investor.”

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