X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PHOENIX-Ocotillo Apartments, a 173-unit, class C complex in north central Phoenix, has traded hands for $6.5 million. Access for Disabled Americans–Ocotillo LLC of Pleasanton, CA purchased the property from Santa Barbara-based Ocotillo Apartments Investments LLC.

Located at 1780 W. Missouri Ave., the 93%-leased Ocotillo Apartments contains 62 studios in 400-sf layouts; 85 one-bedroom units ranging from 568 sf to 600 sf; and 26 three-bedroom apartments with 829 sf. Monthly rents range from $480 to $710.

“This is a pride of ownership property with strong occupancy,” says Brett Polachek, a director with Cushman & Wakefield of Arizona Inc. who partnered with Todd Braun on negotiating the sale.

According to Polachek, Access for Disabled Americans was attracted to the property because it has strong curb appeal. The 31-year-old complex also is within walking distance of a proposed light-rail station at 19th and Montebello avenues.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.