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Oak Creek Turns to Another Owner

$2.065 Million Investment Sale
By Diana Sharkey
December 30, 2002 | 2:00 P.M.

ResCom Investments LLC, of San Diego, purchased the Oak Creek Apartments located at 801 West Turney Ave. in Phoenix. The 60-unit complex sold for $2.065 million, a little less than $34,417 per unit, at a 9% cap rate. This complex consists of seven buildings comprised of 30 one-bedroom/one-bath and 30 two-bedroom/one-bath units. The 34,464-square-foot property has a barbeque area, a pool, laundry facilities, and covered parking. Ric Holway of Marcus & Millichap represented both the buyer and the seller, Teodor LLC, in the sale transaction. By: Diana Sharkey & Phil Majarucon (12/30/02)

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News | Oak Creek Turns to Another Owner