Marcus & Millichap sells Scottsdale multi-family asset for $1.15M


marcus_millichap_logoMarcus & Millichap (NYSE: MMI) has announced the sale of Loft 6, a recently renovated boutique apartment building in the downtown area of Scottsdale. The asset commanded a sales price of $1.15 million or $191,667 a unit.

Brian Tranetzki and Rich Butler, multifamily investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing and negotiated the transaction on behalf of the seller, a local investment company which focuses on multifamily investment and repositioning. Andrew Spitler from Keller Williams brought the buyer.

“Loft 6 is surrounded by numerous attractions such as the renowned Scottsdale Fashion Square Mall, Scottsdale Waterfront, The Scottsdale Arts District, Fifth Avenue Shopping District, Old Town, and plenty of world class restaurants which are all located within walking distance from the property, Loft 6 truly captures the essence of Downtown Scottsdale Living.” says Tranetzki.

The property is located at 6945 East 2nd Street, Scottsdale, Arizona.

“Renovated in 2014, Loft 6 is comprised of six distinctive and well-designed loft style floor plans with high vaulted ceilings and an open bedroom space overlooking floor to ceiling glass windows. New interior appointments include kitchen appliances, brushed nickel faucets, in-unit washer and dryers, faux wood flooring appealing to the young professional tenant base that lives at the property.” adds Butler.

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