Patio 15, The Dream Project sells for $5.325M

A Central Phoenix residence located at 1523 West Colter St has negotiated, Patio 15, is being sold for $5,325,000 as per negotiations by Colliers International in Greater Phoenix. It makes for a great opportunity for anyone who is interested in buying real estate that is located quite near to the light rail system which happens to be very popular.

According to the executive vice president of Colliers International, Jeff Sherman, Patio 15 offers people with two and three bedroom apartments that are perfect for families and are quite appealing in the said neighborhood.  

Zev Hendeles of Phoenix sold this dream project to Don Saunders from Alberta, Canada. Mr. Don Saunders has a history of buying exceptional real estate. He also happens to own the Cedar Creek Apartments in Glendale. The business transaction was handled by Trevor Koskovich, Jeff Sherman and Bill Hahn of Colliers International in Greater Phoenix.

Patio 15, the dream project was built in two phases. It was constructed way back during 1968 and 1969. However, it was then extensively remodel in 2015. The construction consists of a total of 15 buildings and possesses 62 apartments. It has a total area of 49,300 square feet.

The project also features 115 parking spaces, laundry facilities, and even a swimming pool. Some of the apartments have an in-house washer and dryer for added convenience. The interior was also renovated in order to make the apartments more modern. The renovations include features such as new bath fixtures and flooring, some new appliances, and completely renovated cabinets. People are eager to be part of Patio 15 as evident by its state during the sale. When Don Saunders bought the complex only 3% of the establishment was vacant.

The Patio 15 building community is located on the far west side of 15th Avenue which happens to be just one block north of Camelback Road. The said property happens to be covered by a neighborhood that has a mix of multi and single family homes. There are also a number of commercial areas nearby.

The area provides a lot of facilities for people in search for a location where they can raise their family. Numerous schools are located nearby along with the Colter and Solano public Parks. Grand Canyon University is also nearby along with St. Joseph’s Hospital and a quite a lot of community colleges. No wonder Patio 15 receive a lot of interest in the real estate market.

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