Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CHANDLER, AZ-A local investor has finalized a $1.7-million buy of the 42-unit Tuscany at Chandler Apartments. Seller Sean O’Carroll of Tempe is getting nearly $39,000 per unit in the transaction.

Private investor Dick Berry, also based in Tempe, has latched onto a holding in a suburb, where vacancy is about 7%, slightly above that recorded for the entire Valley. Tuscany at Chandler Apartments is located at 625 N. Alma School Rd. It is situated midway between Ray Road and Chandler Boulevard and two miles from the Price Freeway section of Loop 101. It’s also within two miles of the soon-to-open Chandler Fashion Mall, which has attracted scores of retailers, shops and restaurants to the area along the freeway’s path.

Chandler carries a higher rent price–$733 per month– than the rest of the Valley. The higher rents in the suburb about 15 miles southeast of Phoenix are a reflection of the newer apartment stock. The Phoenix office of Hendricks & Partners, with brokers John Kobierowski, Jim Kasten and Jan Long, negotiated the transaction.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.