Running Brook | 2615 East Greenway Road, Phoenix, AZ 85032 | 28 Units | Built 1981 | $4,175,000 | $149,107 Per Unit | $196.93 Per SF
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com
Phoenix, AZ. (October 21, 2025) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $4,175,000 / $149,107 Per Unit / $196.93 Per SF sale of Running Brook, a 28-unit multifamily apartment community located in Phoenix, Arizona. The Buyer was represented by ABI Multifamily's Mitchell Drake, Dallin Hammond, and Carson Griesemer. ABI Multifamily's Andrew Arambula, Tom Palestina, and Bryce Neagle represented the Seller in this transaction.
The Buyer is based in California and the Seller is based in Oregon.
Built in 1981, Running Brook consists of (12) one-bedroom / one-bathroom units averaging approximately 700 square feet and (16) two-bedroom / one-bathroom units averaging approximately 800 square feet. The property features covered parking, an on-site laundry facility, and is individually metered for electricity.
Running Brook presents a value-add opportunity through both interior and exterior renovations, providing investors with significant upside potential. The community is strategically positioned near key economic and lifestyle drivers in the highly desirable Northeast Phoenix submarket. Residents benefit from immediate access to the Paradise Valley Mall redevelopment, a large-scale mixed-use project featuring premier retail, dining, and entertainment options, along with new luxury residential and office components. The property offers excellent connectivity to the SR-51 Freeway, providing convenient access to Downtown Phoenix, Scottsdale, and the broader Metro Phoenix area.
Running Brook is also surrounded by a strong base of employment and amenities, including proximity to major corporate corridors along North 32nd Street and Greenway Road, the Mayo Clinic Hospital, and a variety of business parks and educational institutions. Nearby recreational and lifestyle attractions include Lookout Mountain Preserve, Stonecreek Golf Club, and a wide array of retail destinations such as Kierland Commons, Scottsdale Quarter, and Desert Ridge Marketplace.
ABI Multifamily (https://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Las Vegas, San Diego, and Tucson, the experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.