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Villa Contento Sells in Scottsdale

Investor Pays $4.3M for Fully Leased Multifamily
November 26, 2012
Triton Properties, Inc. sold the 18-unit Villa Contento apartment complex located at 1550 N. 85th Pl. in Scottsdale, AZ to DSRM LLC for $4,275,000, or about $237,500 per unit. The sale included 18 fully-leased units along with 20 finished lots totaling 1.7 acres.

The buyer plans on expanding the Villa Contento and developing the raw land included in the closing.

Brain Tranetzki of Marcus & Millichap represented the seller, while Brock Danielson of KW Commercial represented the buyer.

"Villa Contento is located within one of the most desirable submarkets in the Phoenix MSA. With its close proximity to Arizona State University (ASU), Tempe and the Downtown Scottsdale area, Villa Contento is well positioned to benefit from the nearly 154,000 employees located within a five mile radius, including such major employers as ASU, Scottsdale Healthcare Osborn, General Dynamics C4 Systems and over sixty global and national companies located at SkySong," says Tranetzki

Please see CoStar COMPS #2597118 for more information on this transaction.

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