Vestis Group Completes Sale Of Melrose Place Apartments In Phoenix AZ

By Editor | Real Estate Daily News

JMRS Melrose, LLC of San Diego, California sold the 13-unit Melrose Place Apartments, located at 3110 N 40th Street, in the sought after Arcadia neighborhood in Phoenix to a private investment group from Arizona for $750,000 ($58,000 per unit).

Melrose Place Apartments is a garden-style multifamily community located in east central Phoenix. Built in 1965, Melrose Place has a pitched, composition roof and concrete-block construction, with single-level buildings. The unit mix is comprised of 4 one-bedroom / one-bath units of approximately 800-square-feet each, 7 two-bedroom / two-bath units of approximately 1,000-square-feet and 2 three-bedroom / two-bath units of 1,225-square-feet. All units have spacious kitchens and large closets. Common area amenities included a swimming pool, covered parking and laundry facility. – more at realestatedaily-news.com

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