This property is Off-Market

3515 East Bell Road
Phoenix, AZ 85032 ·

130 Units · Multifamily For Sale

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WindSprings

Price N/A Property Use Type Investment
No. Units 130 No. Stories 2
Building Size 118,300 SF Year Built 1985
Property Type Multifamily Lot Size 4.20 AC
Property Sub-type Garden/Low-Rise
Listing ID: 16812441 Date Created: 08/25/2010 Last Updated: 06/01/2011

Description

WindSprings is situated on ±4.2 acres with mature, attractive landscaping. The property is a two-story, garden design building, and was built in 1985. It is comprised of eight rental buildings with frame and stucco construction. The property is individually metered for electricity and hot water is supplied by a central boiler. WindSprings enjoys a strong occupancy due in part to an excellent infill location with high barriers to entry for new construction, very desirable apartment units, and strong demographic neighborhood.

The WindSprings Apartments are located on Bell Road, a major east-west thoroughfare in metropolitan Phoenix. The property is located just west of theSR-51 Freeway and less than three miles from the Loop 101 Freeway providing easy access to all areas of the valley. WindSprings is located in the Northeast Phoenix submarket, adjacent to Paradise Valley and Scottsdale, and is surrounded by abundant shopping, parks, and schools. WindSprings is located within the Paradise Valley Unified School District, which is arguably one of the finest school districts in the state of Arizona.

Highlights

  • Assumable financing with attractive leverage and interest rate
  • Strong demographic location within close proximity to high-pay job generators
  • Significant drive-by exposure on Bell Road (approximately 48,000 cars per day)
  • Dominant mix of two bedroom/two bath units (±75%)
  • Over 50% of the units are townhouse style (±1,150 square feet)
  • Full size washer/dryers in all units

Research

3515 East Bell Road, Phoenix, AZ 85032 (Maricopa County)

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