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PHOENIX-A private investor from California has purchased the 182-unit Eucalyptus Village in northwest Phoenix. The $5.15-million sale equates to nearly $28,300 per unit.

Private investor Terrance Barry, based in Villa Park, is the new owner of the complex, situated at 4647 N. 39th Ave. Thomas Reilly of Solano Beach, CA is the seller.

The complex is just north of Indian School Road, which is about two miles west of Interstate 17. Nearby amenities include Grand Canyon University and Maryvale Baseball Park.

The deal is a bargain price in comparison to the Valley’s average sale price in the past year. In 2000, the average purchase price was $48,723 per unit whereas the lowest was $29,218 for units built in the early 1970s.

The Eucalyptus Village, being renamed Alta Vista Village, is located in a heavy industrial area. It is situated close to the Burlington Northern Santa Fe Railroad, one of the most active lines in the Valley. The Sperry Van Ness Mullin team of Tom Hershey and Julie Vaughn, both of the Scottsdale office, handled the transaction.

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