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June 19, 2019  

High-Yield Rentals Available in Ariz.

Almon Investment is marketing an apartment complex near Phoenix that’s ripe for upgrades.The 308-unit property, in Glendale, Ariz., is expected to draw bids of about $57 million, or $185,000/unit. At that price, the initial annual yield would be about 4.9%. CBRE is representing Seattle-based Almon.The garden-style complex, called Courtney Vista, is at 7455 North 95th Avenue, next to the Westgate Entertainment District in the West Valley....

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