This 67-unit building is located in Midtown/Uptown Phoenix, an area that has experienced an influx of well-heeled young urbanites. A burgeoning collection of dining destinations, gyms, and local and national shops has transformed the neighborhood, making it a draw for our target demographic.
Prior ownership replaced or upgraded significant portions of the property’s infrastructure. However, cosmetic and design elements were left largely undone or below the standards of the targeted demographic, creating an opportunity to fully rebrand and reposition the 1960s vintage property.
Additional enhancements to the look and feel of the interiors, along with a significant re-design of the exterior facade and common amenity areas, were a catalyst to position the property as an upscale apartment community.
Through direct contact with ownership, we learned that 6060 N 7th Street was about to come to market. We made an early offer, preempting competitive bidding. JAB acquired this well-located apartment community at an attractive price in one of the most competitive real estate investment markets in the country.
