Encanto Waterfront, a 21-unit build-to-rent community in Phoenix, sold in April for over $10 million (submitted photo).

In April, Northmarq’s Phoenix investment sales team, Trevor Koskovich, Ryan Boyle, Jesse Hudson and Logan Baca, announced that they successfully brokered the $10,325,000 sale of Encanto Waterfront, a 21-unit build-to-rent community located at 814 E. Roma Ave. in Phoenix.

Northmarq represented the seller, Phoenix-based Metro 21 on Roma, LLC. The buyer was BSK 340, LLC from Los Angeles. The property had just received its certificate of occupancy for the units prior to April 10 closing. At the time of sale, none of the units were leased, according to the sales team spokesperson.

Built in 2023, the pet-friendly community features 21 two-story, luxury single-family rental homes with three bedrooms and two and one-half baths. There are six 1,298-square-foot units and fifteen 1,378-square-foot units. The homes all include attached one-car garages and fenced yards with paver walkway/patios.  The interiors feature wood-style flooring in all the living areas, plush carpet in bedrooms, stainless steel appliances, walk-in closets and in-unit washer and dryer.

According to the website, unit rates begin at $2,750 for the Ashland design or $2,800 for the Woodlea design. Learn more at www.encantowaterfront.com.


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