Property details

Phoenix Apartment Community For Sale, Southwest Region

Property Description

Phoenix Apartment Community For Sale

As of January 20, 2017, in remodeling. Completion of the rehabilitation in the next 30-60 days.

The property is currently off-market and the rehab is about 90% complete.

There is no T12 or rent roll - the property is currently vacant.

The asking price will be in the $105,000 - $110,000 range.

This is a two apartment community built in 1969 as a motel.

The unit mix is approximately 39% studio, 43% one-bedroom and 18% two-bedroom units.

Construction is of masonry, with flat roofs.

The property has a commercial boiler for hot water, and individual roof- mounted HVAC for heating and cooling.

Electricity costs are sub-metered and paid by the tenants.

Water, sewer, and trash collection is the responsibility of the owner

Common amenities include a swimming pool, a spa, a gym, two on-site laundry facilities, outdoor barbeques, a clubhouse, fire pit area and 100 parking spaces with some covered spaces.

The 5 buildings are constructed on a site comprising approximately 2.10 acres, at a density of 36.19 units per acre.






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Highlights

Status:
Available
Price:
$8,360,000
PSF:
$213
 

Property Information

Building Size:
39,330 sq.ft.
Property Type:
Apartments
Industry Type:
Apartment - Multifamily
Units/Spaces:
76
Year Built:
1969
Land Area:
2.10 acres
Purchase Tenure:
Fee Simple
 

Existing financing information

N/A

The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.