PHOENIX-A pair of local investors have purchased a 36-unit West Valley apartment complex, spending a little more than $1.8 million or $50,700 per unit.

Private investors Vasile and Anuta Gherhes are the buyers of the Parkway Apartments, situated at 5407 W. Glenrosa Ave. in Phoenix. Ragland Revocable Trust, based in Phoenix, is the seller in the deal structured by Todd Braun, Paul Gross and Brett Polachek, all of the Phoenix office of CB Richard Ellis.

The single-story complex is located in the heart of Maryvale, one of the older section of west Phoenix. The complex is west of the northwest corner of the Indian School Road and 51st Avenue intersection. Nearby amenities include the Maryvale Municipal Golf Course, less than a half mile to the west, and Maryvale Baseball Park, which is just south of the complex. The 33,840-sf, newly renovated community features two-bedroom apartment homes, with an average unit size of approximately 940 sf.

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