34th Place Apartments, aka MODE @ 34th Place, is a 45-unit, midcentury modern, one and two-story, multifamily community located in the Arcadia neighborhood, near boutiques and popular eateries such as The Vig Arcadia, La Grande Orange Grocery, Postino WineCafe, Beckett’s Table, Crudo, Nook, Chelsea’s Kitchen, North Italia, The Yacht Club, Buck & Rider, Steak 44 and The Henry.
34th Place Apartments is a mid-century modern apartment community located in the heart of Arcadia Phoenix. The property is located in a quiet residential neighborhood just north of the Thomas Road, along 34th Place, allowing easy access to the Biltmore area, the Camelback Corridor, the valley freeway system and numerous employers.
Built in 1973, 34th Place Apartments was fully remodeled and repositioned in 2017. Interior property upgrades include in-suite laundry, stainless-steel appliance package, stainless steel sinks with garbage disposal and retractable multi-setting faucet, uprgraded countertops, wood-look ceramic tile floors, porcelain tile shower surrounds with new fixtures, premium lighting, and low-flow toilets. The revamped exterior features, controlled access gates, a manicured courtyard with swimming pool, grilling station, seating areas and pet friendly accommodations. All units have assigned covered parking.
BUY – Purchased for $2,025,000 on 6/24/2016.
FIX – Renovated the Arcadia neighborhood Phoenix community with high-end contemporary finishes inside and out. Increased average rents substantially. Held for long-term investment.
SELL – Sold for $5,854,650 on 4/24/2020.
VESTIS GROUP | PHOENIX ARIZONA MULTIFAMILY REAL ESTATE INVESTMENTS
Vestis Group | Vestis Capital LLC is a real estate firm focused on Multi Family Residential Investment. We invest our clients’ capital together with our own to take advantage of opportunities with attractive risk-return attributes and an expectation of above-market returns. These goals are achieved through stringent underwriting practices and proactive property and asset management.
Through our extensive knowledge of the Phoenix multi-family residential real estate market, we can identify early trends, which provide insight into our pursuit of investment opportunities. Vestis Group’s principals have a thorough knowledge of the housing industry.
We have developed, built, rehabilitated, constructed, improved, managed and sold thousands of apartments, condos, homes, and home sites. Vestis Group principals and affiliates also have extensive experience constructing, improving, renovating, owning and operating residential and commercial properties. Our expertise in management, finance and construction is the backbone supporting every investment opportunity we identify.
For more information, please contact Vestis Group at 602-281-6202 or Email Us.