In their first foray into the Phoenix market, Christopher and Connie Burger acquired title to the 29 unit Missouri Crest apartments and the 14 unit Granada Gardens complex in a simultaneous deal with seller Jim Fisher of Sun Lakes.
"They liked the fact that both of these complexes are near the Spectrum Mall, where a future light rail stop will be," Brian Smuckler, with Marcus and Millichap said of the buyer's.
Missouri Crest, located at 1623 and 1625 W. Missouri Ave., sold for $1.105 million. The property, a mix of one- and two-bedroom units with large floor plans and rents ranging from $450 to $575, had three vacancies at the time of sale.
The single-story Granada Gardens at 2001 W. Morton Ave., which had only one vacancy, is comprised of two bedroom units that rent for $575 per month.
Both properties sold just one week after being put on the market. Smuckler represented both the buyer and seller in both transactions.
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