The Durango, CO couple's 1983-constructed holding at 3816 E. McDowell Rd. received several offers, but two that were particularly solid during the 10-day marketing period. "This is a vintage property, well-located and well-occupied so it had some great activity," says Brett Polachek, a Phoenix director for Cushman & Wakefield of Arizona Inc. He and C&W colleague Todd Braun represented the 14-year owners, Mark and Janet Shapiro, while Greg Thielen , John Kobierowski and Kyle Porter, all with locally based Hendricks & Partners, bargained for the buyer, Avantgarde Properties LLC from Danville.
Harbor View was listed for $2.75 million. Polachek tells GlobeSt.com that the buyer, who'd been eyeing Harbor View, deployed gain from a multifamily property sale in Tempe to help fund the deal. "The buyer was already familiar with the property, having been interested in it and even placing a bid on it before," Polachek says. "That gave us confidence there was interest there and he could get it done."
Harbor View, with a 2% vacancy, contains all one-bedroom units, ranging from 500 sf to 598 sf. Monthly rents go from $430 to $475.
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