Darrell Moffitt, a senior investment associate and senior director of Marcus & Millichap’s National Multi Housing Group in Phoenix, is representing the seller, Avtar and Satya Verma.
“Desert Jewel offers an investor the opportunity to acquire a turn-key apartment community featuring large units in the very desirable Chandler market,” says Moffitt.
Located at 2800 North Arizona Ave., the 115,900-square foot apartment community consists of four two- and three-story buildings situated on a 4.23-acre lot.
Built in 2003, there are 80 units in the apartment community, with 32 additional units scheduled to be completed this year. Desert Jewel boasts a mix of one-, two- and three-bedroom units. Unit amenities include washers and dryers in all units, fireplaces in selected units, ceiling fans, fully equipped kitchens, air conditioning and nine-foot ceilings. Community amenities include a swimming pool, spa, barbecue area and a clubhouse.