The Lynd Company sold the Paradise Palms Apartment complex in Phoenix, AZ to California Capital Real Estate Advisors Inc. for $4 million, or $28,300 per unit.
The 88,831-square-foot complex is situated on 3.89-acres and located on the Southwest corner of N. Cave Creek Road & E. Grovers Avenue. The complex was reported 87 percent occupied at closing.
Cliff David and Steve Gebing of Marcus & Millichap represented the seller, who foreclosed on the property last year. The buyers represented themselves in the closing.
Please see CoStar COMPS# 2488593 for more information on this transaction.