This Multifamily Property is Off-Market.

2435 N. McAllister Avenue
Tempe, AZ 85281 ·

38 Units · Multifamily For Sale

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Brenda Arms

Price N/A Gross Rent Multiplier 11.37
No. Units 38 Occupancy 100%
Building Size 31,328 SF No. Stories 2
Property Type Multifamily Year Built 1983
Property Sub-type Garden/Low-Rise Lot Size 1.87 AC
Property Use Type Investment Parking Ratio 2.39 / 1,000 SF
Cap Rate 5.32%
Listing ID: 14270339 Date Created: 07/15/2005 Last Updated: 04/19/2006

Description

Brenda Arms apartment community is a very unique multi-family offering that is positioned within a rare Tempe/Scottsdale location. The subject property is clearly in the upper echelon of existing buildings with this vintage throughout the valley, suggesting limited direct competition and extreme supply constraints moving forward as "in-fill" locations become more desirable and land becomes scarcer. The property is situated on approximately 1.87 acres, comprised of functional 1 bedroom and 2 bedroom floor plans constructed in 1983. The asset consistently enjoys 100% occupancy and offers very low site coverage as the parking spaces nearly triple the amount of units. Furthermore, most competing apartment communities do not offer the quaint environment or the product quality of Brenda Arms. Interior amenities include tile floors, private patios/balconies, exterior storage closets, and individual hot water heaters. The exterior of the property was recently painted and new landscaping was placed throughout the entire community.

PLEASE DO NOT VISIT THE PROPERTY UNDER ANY CIRCUMSTANCES. CONTACT THE LISTING AGENT FOR FURTHER DETAILS.

This superior location provides an opportunity to own and manage a premier rental community within one of the most desirable submarkets in the valley. Located in Tempe, just south of the Scottsdale border, Brenda Arms is highly coveted by residents because of the close proximity to both the Arizona State University Main Campus as well as all the world class shopping and dining that the City of Scottsdale has to offer. In addition, the immediate surroundings of the community are getting even stronger with the planned 42-acre ASU Scottsdale Center for New Technology and Innovation, a proposed 1.2 million square foot bio-tech research campus.

Highlights

  • True "Pride of Ownership" Community
  • Extreme Supply Constrained Submarket
  • 1983 Construction
  • 100% Occupied
  • Near ASU Main Campus & Center for New Technology and Innovation
  • Rent Upside

Research

2435 N. McAllister Avenue, Tempe, AZ 85281 (Maricopa County)

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