Kozlica Highland LLC got the deed for 1108 E. Highland Ave. from Highland Terrace Apartments Ltd. "The owner had indicated that they would consider selling the property at a certain price so we brought them a buyer," says Todd Braun, a senior director with Cushman & Wakefield of Arizona Inc. who teamed with Brett Polachek to broker the transaction.
Braun tells GlobeSt.com that the buyer was attracted to the location near the Camelback Corridor and Central Avenue. Moreover, the 19-year-old complex is "in good shape," he says.
Situated on two acres, the two-story building has 26 one-bedroom units and 13 two-bedroom apartments. The average unit is 700 sf; and average monthly rent, $550.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
