Historical Multifamily Sale Listing - Sunshine Terrace Apartments

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Sunshine Terrace Apartments

5615 N. 7th Street, Phoenix, AZ 85014

N/A

74 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
74
Building Size:
41,240 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Vacant/Owner-User
Cap Rate:
7.21%
Gross Rent Multiplier:
6.69
No. Stories:
2
Year Built:
1971
Lot Size:
2.14 AC
APN / Parcel ID:
162-07-047A & 162-07-047C
Listing ID
14745048
Last Updated
over 1 year ago

Highlights

  • 100% Occupied
  • 8% Cash on Cash Return
  • Located Near Camelback Corridor & Downtown Phoenix
  • Excellent Financing-5.25%-Int Only Until July 2008

Description

Sunshine Terrace Apartments is a 74-unit frame and stucco complex located in central Phoenix, Arizona. The improvements were complete in 1971, and are comprised of six two-story, garden-style buildings. The buildings are situated on a 2.14-acre site and include approximately 41,180 square feet of rentable apartment space. Units are master-metered for electricity and hot water.Sunshine Terrace offers prospective tenants a mix of studio and one-bedroom floor plans in an attractive, well-maintained environment. The units are equipped with such amenities as microwave ovens, ceiling fans, walk-in closets, dishwashers and frost-free refrigerators. The property has ample parking for both tenants and visitors, both covered and open. The pool/cabana area is equipped with a tenant-controlled misting system, sensor lighting, three outdoor ceiling fans and a gas barbecue area complete with tile counter and overhead light.

Sunshine Terrace Apartments is located on 7th Street just north of Missouri Avenue in Phoenix, Arizona. Well-situated in the heart of central Phoenix, Sunshine Terrace offers residents express access to the entire Phoenix metropolitan area via the nearby State Route 51, Interstate 10 (Papago Freeway) and Interstate 17 (Black Canyon Highway). Two of the Valley's hubs of economic activity, Downtown Phoenix and the Camelback Corridor, reside within a five-mile radius of Sunshine Terrace. These areas provide tenants an array of services such as employment, entertainment, education, dining and shopping, and are experiencing a tremendous amount of growth and development.

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