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PHOENIX-A “vintage apartment complex in a classic area” should have been an easy sell, but last-minute issues almost scuttled the deal for Advanced Equities’ Scott Barry and Joe Yu.

The brokerage team resolved the last-minute standoff between buyers Roy and Elaine Irick of Palos Verde, CA and seller Eli Raviv, of Fountain Hills, however, and capped the sale of the 20-unit Tamarack Apartments with $935,000. “We felt we had a pretty strong offer and were able to resolve the issues and get the deal closed,” Barry tells GlobeSt.com, declining further comment on the issues that almost sank the sale.

Barry says the 345 W. Pasadena property, which he describes as “a vintage apartment complex in a classic area,” was on the market just 30 days when the Iricks, who recently purchased Palos Verde Fairways in Phoenix, offered $60,000 below Raviv’s $995,000 asking price.

“It’s a real clean, quiet property in an excellent Phoenix location,” Barry says of the complex, located about a half-mile north of the Camelback Corridor in the heart of the city. Built in 1959, the fully occupied complex is comprised of a mix of one- and two-bedroom units that rent for $525 to $625 per month.

Barry and Yu represented the buyer in the transaction. Diana Schenker of Diamond Commercial Real Estate in Phoenix negotiated for the seller.

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