California Capital Picks Up 62 Units in Phoenix

A California-based private investor has acquired a The Retro, a 62-unit apartment building in East Phoenix. The property traded hands for $5.35 million.

The complex was built in 1968 and renovated in 2015. It features a mix of 31 studio, 29 one-bed/one bath and two two-bed/one-bath units.

ABI Multifamily’s private apartment team of associates Dallin Hammond and Mitchell Drake and VP Ryan Smith represented the Buyer.