3/26/2008

Arizona apartment complex listed for $14.5M

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The Desert Jewel, a 112-unit apartment complex in the Mesa suburb of Chandler, Ariz., has been placed on the market with an asking price of $14.5 million or $129,464 per unit.

Darrell Moffitt of Marcus & Millichap's Phoenix office is representing the seller, Avtar and Satya Verma.

The Desert Jewel is situated on 4.23 acres at 2800 North Arizona Ave. Built in 2003, it contains 115,900 square feet and is comprised of four, two and three-story buildings. The community currently has 80 units with another 32 units scheduled to be built this year.

Address: 2800 North Arizona Ave., Chandler, Ariz.

Size: 112 units/115,900 square feet

Built: 2003

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Filed Under: Multi-Family

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