Capri is a 13-unit garden-style, condo-mapped community located in the South Scottsdale submarket. It is conveniently located near Old Town Scottsdale, Scottsdale Fashion Square and the Scottsdale Waterfront.
Built in 1959 and subject to multiple renovations and updates, including roof replacements from 2016-2018 and air conditioner replacements in 2019, Capri retains the flair and charm of its original Mid-century Modern architecture.
ABI Multifamily’s Royce Munroe represented both the Buyer and the Seller.
“The Seller, a 30-year veteran multifamily investor, chose to exit his position in the face of strong pricing,” Munroe said. “The Buyer, an Arizona real estate developer, is excited to own the Capri as a legacy asset in an exceptional Scottsdale location that continues to improve and enjoys stellar rent growth and occupancy levels.”