Doug Fielding of the Phoenix office of Marcus & Millichap represented the seller, David Sanchez of Bountiful, UT. John Hall & Associates represented the buyer, John Lukacs.
The Glendale apartment market consists of 59 properties, representing 9% of the total inventory in metro Phoenix. On the average, the properties contain 246 units. Glendale is one of the stronger markets, with its occupancy now riding at 93%, according to California-based RealFacts research team. Average rent is $620 per month.
Glendale ranks as the metro's fourth largest apartment market. The line-up has Phoenix at the lead followed by Scottsdale and Mesa. Tempe is in fifth place with 57 properties.
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