8/20/2008

Marcus & Millichap brokers sale of 48-unit apartment building in Phoenix

by Jim Brubaker

Solano Park Apartments

Marcus & Millichap facilitated the sale of the 48-unit Solano Park Apartments in Phoenix, Ariz., for $2.23 million.

Marcus & Millichap's Brian Smuckler, vice president of investments in the firm's Phoenix office, had the exclusive listing to market the property on behalf of the seller, Kevin Saunders. Sunny Park LLC, the buyer, was secured and represented by Smuckler.

Solano Park Apartments was built in 1987. It features a mix of 21 one-bed, one bath studios, 12 one-bed, one bath units and 15 two-bed/two bath units that range from 450 to 780 square feet.

On-site amenities include covered parking, rental offices, laundry facilities, a swimming pool and an electronic access gate.

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Filed Under: Multi-Family

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