FOR IMMEDIATE RELEASE – March 11, 2013
Vestis Group Brokers Sale Of Griffith Estates Apartments In Tempe
(Tempe – March 11, 2013) – Vestis Group is pleased to announce the completed sale of Griffith Estates Apartments, an 8-unit multifamily property, located at 1337 & 1343 W 3rd Street in Tempe, Arizona, for $389,340 / $48,667.50 per unit.
The buyer, AHF American Homes Fund (USA), LP, purchased the 8-unit multifamily property. The seller was O.W.L. Real Estate and Investments, LLC. Natan Jacobs, Les Litwin and Victoria Miachika of Vestis Group represented the Buyer in the sale.
Griffith Estates Tempe Apartments is an 8-unit, garden-style, single-level apartment community located in a strong rental area of north Tempe, just west of Mill Avenue. Built in 1981, Griffith Estates has a flat roof and block construction, one-level buildings and is individually metered for electricity. The unit mix is comprised of one-bedroom / one-bath units of approximately 600 square feet and two-bedroom / one-bath units of approximately 775 square feet. All units have spacious kitchens, mini blinds, ceiling fans and large closets.
Griffith Estates is located in the Sunset Neighborhood of north Tempe, along W 3rd Street, within walking distance to ASU, Mill Avenue, Tempe Town Lake, Orbit Shuttle and the Valley Metro Light Rail. The property is located in a quiet residential neighborhood east of Priest Drive within close proximity to the Loop 202 Freeway, allowing easy access to Sky Harbor International Airport, Downtown Phoenix, Scottsdale, the valley freeway system and numerous employers.
About Vestis Group:
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.