"We had a ton of activity on this property," Brett Polachek, a director with Cushman & Wakefield of Arizona Inc., says about the 3212 N. 70th St. property. He and partner Todd Braun represented the seller, Ted Kennedy of Scottsdale. Innovestors Real Estate Solutions of Santa Clara, CA brokered the deal for SOPA Fund I.
Polachek tells GlobeSt.com that Scottsdale Townhouse Apartments received 10 offers. "We had so many offers that were bidding up the price," he says, adding prospective buyers were attracted to the infill location near downtown Scottsdale and condo conversion potential.
The 54-year-old Scottsdale Townhouse Apartments sits on nearly an acre. It is comprised a 500-sf, one-bedroom unit; 25 two-bedroom units of 950 sf; and a 1,550-sf house. Monthly rents range from $615 to $900.
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