Rosecrest Apartments in the Heart of Midtown Sells for $929K


Article originally posted on AZ Big Media on September 29, 2015

ORION announced that Rosecrest Apartments has sold for $929,000, or $61,933/unit. The property is well-located in the heart of Midtown on 3rd Avenue and Camelback Road. Situated on an approximate half-acre of land, Rosecrest Apartments is comprised of three block-constructed buildings totaling 15 units. The property is individually metered for electricity and was 100% occupied at close of escrow.

Associates Zack Mishkin and Jamie Canute of ORION Investment Real Estate negotiated the sale. “Imagine owning a mid-century, garden-style apartment complex right in the heart of Midtown, walking distance to not one, but two Light Rail stations and numerous notable eateries. Well, that’s The Rosecrest Apartments,” says Mishkin. “Notable businesses in the area include: Uptown Plaza (undergoing a mid-century styled renovation), Dutch Bros. Coffee, The Newton, Postino, Windsor, Federal Pizza, Joyride Taco House, and St. Francis,” he further explains. The Seller was Phoenix Venture Capital LLC. Individual, Bryan Nash, purchased the property.

Please contact Mishkin or Canute for more details regarding this transaction, additional investment opportunities, or to discuss the sale of your property.