George Galanoudes of Vista, CA bested several other bidders with his offer for the Villa Royale at 1320 E. Highland St. in Phoenix with an offer of just $50,000 below the seller's asking price, Ric Holway with Marcus & Millichap's Phoenix office tells GlobeSt.com.
Built in 1968, the single-story, garden-style community consists of two-bedroom, one bath units, each about 850 sf. The complex sits on 4.2 acres just south of the prestigious Camelback Corridor and traditionally maintains a 90% occupancy level, Holway says. Galanoudes exchanged a San Diego holding to buy the Villa Royale from seller Rich Amen of Del Mar, CA. Holway represented Amen in the transaction while Galanoudes' interests were negotiated by his brother, Bill Galanoudes.
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