Solano Vista Buy is Well-Timed for Market Conditions

Rents are increasing in Glendale and a well-timed purchase is poised to capitalize on future bumps. Solano Vista, a 352-unit apartment community in Glendale, AZ, recently sold to a private Arizona-based buyer for $56.1 million. The two-story garden-style community is located at 7102 N. 43rd Ave. and features studio, one- and two-bedroom units.

Half of the units have been upgraded to include stainless steel appliances, shaker-style cabinets, quartz countertops and stackable washer/dryers in one- and two-bedroom units.

Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of CBRE represented the seller, AZ Solano Vista LLC, in the transaction.

“Solano Vista is in a desirable Glendale location where rental rates have steadily increased and vacancy has dropped,” said Seaman. “The buyer will benefit from value-add potential through continued renovation of the remaining 191 units.”

Built in 1974, property amenities include a recently remodeled clubhouse and gym, dog park, four swimming pools, barbecues, covered parking and secured gate access.

Solano Vista is situated along 43rd Avenue, just north of Glendale Avenue, a major thoroughfare to Phoenix. The community is minutes from Grand Canyon University, Arizona State University’s West Campus, Westgate Entertainment District, State Farm Stadium, historic downtown Glendale, Desert Diamond Casino, and several shopping and entertainment destinations.