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After paying $17 million for a Valley apartment community 21 months ago, 3rd Ave Investments has turned around and sold it for $30.75 million.

Phoenix-based 3rd Ave Investments LLC — which is on track to buy 1,000 apartment units before the end of the year — just paid $23.85 million for an apartment complex in central Phoenix.

The firm has acquired 14 properties in the past three years with aggregate market value of more than $250 million.

Colliers International in Greater Phoenix recently completed the sale of Villa Contenta, a 62-unit Class B multifamily complex in the Camelback Corridor of Phoenix for $3.44 million or $55,564 per unit ($69.87 per square foot).

3rd Ave Investments of Phoenix purchased the property, located at 1523 W. Colter St., from Pioneer Colter LLC of White Plains, N.Y. This is the second purchase Zev Hendeles, principal of 3rd Ave Investments, has made in the last month. Hendeles recently closed on Aster Gardens in Phoenix, a 28-unit apartment complex, and is actively pursuing other deals.

Solano Terrace LLC in Phoenix (Zev Hendeles, principal) paid $12.25 million ($42,535 per unit) to buy the 288-unit Sonoma Grand apartments located at 4715 N. Black Canyon Highway in Phoenix.