Darrell Moffitt, with Marcus & Millichap's Phoenix office tells GlobeSt.com that Right Place Properties, which owns several other condominium developments in the Phoenix market, won out over three other bidders with a $2.4-million offer to take the keys to the 3010 W. Camelback Rd. apartment complex, which is zoned for condominium use.
"They should begin marketing them as condominiums within the next year," Moffitt said. The sale price of those condos has not yet been set.
The two-story property, located at 38th Street and Camelback Road, was listed only 30 days prior to being sold. It features garden-style units with a swimming pool, covered parking and on-site laundry facilities.
Moffitt represented the seller, Garden Lane Associates LLC, in the transaction. The buyer, Right Place Properties, was self-represented.
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