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Sierra Vistas 1123 E Sierra Vista Dr 24 Unit Apartment Building $3,360,000 ($140,000/Unit) Phoenix, AZ 85014
Executive Summary
ABI Multifamily is pleased to present Sierra Vistas Apartments, a 24-unit community offering a rare value-add opportunity in one of North Central Phoenix's most desirable and supply-constrained rental markets. Situated in a quiet pocket of the highly sought-after 85014 zip code, the property offers residents convenient access to the Uptown Corridor, the Biltmore, Phoenix Mountains Preserve, SR-51, premier healthcare providers, major employment centers, popular dining, and everyday retail.
Built in 1957, the two-story, garden-style community consists of (2) studios, (8) one-bedroom, one-bath units, and (14) large two-bedroom, two-bath units. Residents enjoy an on-site pool, a landscaped courtyard, community laundry facilities, and covered parking.
The property offers substantial upside through interior, exterior, and system renovations, giving a new owner the opportunity to unlock meaningful rental growth in a neighborhood with consistently strong tenant demand. Master-metered electric service and a central chiller/boiler system present further opportunities for a buyer to implement a long-term capital improvement strategy tailored to their investment objectives.
Please contact Colin Kreager and Mitchell Drake for additional info.
Built in 1957, the two-story, garden-style community consists of (2) studios, (8) one-bedroom, one-bath units, and (14) large two-bedroom, two-bath units. Residents enjoy an on-site pool, a landscaped courtyard, community laundry facilities, and covered parking.
The property offers substantial upside through interior, exterior, and system renovations, giving a new owner the opportunity to unlock meaningful rental growth in a neighborhood with consistently strong tenant demand. Master-metered electric service and a central chiller/boiler system present further opportunities for a buyer to implement a long-term capital improvement strategy tailored to their investment objectives.
Please contact Colin Kreager and Mitchell Drake for additional info.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $3,360,000 | Building Class | C |
| Price Per Unit | $140,000 | Lot Size | 0.91 AC |
| Sale Type | Investment | Building Size | 20,181 SF |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | Parking Ratio | 1.39/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | R-4, Phoenix | ||
| Price | $3,360,000 |
| Price Per Unit | $140,000 |
| Sale Type | Investment |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.91 AC |
| Building Size | 20,181 SF |
| No. Stories | 2 |
| Year Built | 1957 |
| Parking Ratio | 1.39/1,000 SF |
| Zoning | R-4, Phoenix |
Amenities
Site Amenities
- Laundry Facilities
- Pool
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | $764.50 | 495 |
| 1+1 | 8 | $1,046 | 505 - 695 |
| 2+2 | 14 | $1,415 | 965 - 985 |
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Fairly walkable
50/100
Very drivable
80/100
Some public transit
40/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 161-06-062A | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $108,837 |
Property Taxes
Parcel Number
161-06-062A
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$108,837
Contacts
-
Colin Kreager -
Mitchell Drake -
Carson Griesemer -
Dallin Hammond -
ABI Multifamily
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