The 288-unit Mountainside Apartments, located at 3625 E Ray Road in Phoenix, sold Friday for $41.25 million or $143,229 per unit. Sale documents indicate debt with the purchase, yet no debt documents were recorded. The new owners are managed by KB Investment Development of Southern California.
This twenty-year old complex consists of nineteen buildings containing one, two, and three-bedroom units. It includes two pools, washers and dryers in-unit, and detached garages.
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