Vestis Group Negotiates Sale Of Desert Siesta Apartments in Phoenix AZ

FOR IMMEDIATE RELEASE – July 5, 2013

Vestis Group Negotiates Sale Of Desert Siesta Apartments in Phoenix AZ

(Phoenix – July 5, 2013) – Vestis Group is pleased to announce the completed sale of Desert Siesta Apartments, a 9-unit multifamily property, located at 4235 North 17th Street in Phoenix, Arizona, for $350,000 / $38,889 per unit.

William & Carole Thurlow sold the Desert Siesta Apartments in Phoenix to Cinderbox, LLC, an Arizona limited liability company for $350,000. Natan Jacobs, Les Litwin and Victoria Miachika of Vestis Group represented the Buyer in the sale of this Phoenix apartment complex. Jason Campagna of RE/MAX Professionals represented the Seller. The new owner plans to improve the Phoenix apartment community with refreshed interiors and several exterior improvements.

Desert Siesta Apartments is a 9-unit Phoenix multifamily community built in 1986. The property is  comprised of 7 two-bedroom / two-bath units of approximately 1,030 square feet and 2 one-bedroom / one-bath units of approximately 830 square feet, providing a superior unit mix to that of its competitors within the submarket. The unit interiors include in-suite stacked washer/dryers, wood laminate and carpet floors, bathrooms and kitchens which include a modern “all electric” appliance package; convenient walk-in closets are also in each unit. Common area amenities include covered parking, washer/dryer hookups, balconies/patios, storage, individually-metered for electricity.

Desert Siesta Apartments is located in central Phoenix, in the East Phoenix sub-market, near the Camelback Corridor, major employment centers and shopping. The Property enjoys easy access to the SR-51 Freeway and is minutes from Biltmore/Esplanade, Downtown Phoenix and Sky Harbor International Airport.

 

Vestis Group is a leading multifamily investment sales and advisory services firm with a proven track-record of providing value added brokerage services coupled with innovative and ongoing real estate investment strategies. Our mission is to ensure that owners and investors receive the most efficient research, marketing, real estate consultation and transaction services available. We pride ourselves on our ability to deliver added value to our clients by building uncompromising and long-lasting relationships with our partners.

Vestis Group serves multi-family owners and investors with a full suite of commercial real estate services, including Buyer Representation, Project Marketing & Sales, Asset Management, Condominium Association Management, Project & Development Services, Research and Consulting.

For more information, please visit: www.Vestis-Group.com.