Investor pays $16.8 million for 106 Valley rental homes

home rentals

home rentalsCatherine Reagor, The Republic | azcentral.com

A Scottsdale investor has bought 106 metro Phoenix rental houses for $16.8 million, or about $158,255 a home.

Scottsdale-based Pacific Rim Properties purchased the houses from a Denver group called Wymont. The deal is one of the biggest sales of a rental-home portfolio since the investor home-buying spree of 2010-12.

Of the 106 houses sold, 101 currently are leased. Most of the homes were built in 2004 and have four bedrooms. The purchase price-per-house is about $50,000 less than metro Phoenix’s current median home price.

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