1452 E Cinnabar Ave
Phoenix, AZ 85020
Aspire Preserve · Multifamily Property For Sale
·
26 Units
Property Facts
| No. Units | 26 | Lot Size | 0.96 AC |
| Property Type | Multifamily | Building Size | 18,350 SF |
| Property Subtype | Apartment | Average Occupancy | 93% |
| Apartment Style | Low-Rise | No. Stories | 2 |
| Building Class | C | Year Built/Renovated | 1980/2023 |
| Zoning | R-3 | ||
| No. Units | 26 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.96 AC |
| Building Size | 18,350 SF |
| Average Occupancy | 93% |
| No. Stories | 2 |
| Year Built/Renovated | 1980/2023 |
| Zoning | R-3 |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Heating
- Kitchen
- Stainless Steel Appliances
- Tub/Shower
Site Amenities
- Walk-Up
About 1452 E CINNABAR AVE , PHOENIX, AZ 85020
Mount Crescent is a 26-unit garden-style apartment community located in a desirable North Mountain neighborhood just east of 12th Street and Cave Creek Road. Built in 1980, the property is made of wood frame construction with pitched composition shingle roofs, and is individually metered for electricity. The unit mix is comprised of one, two and three-bedroom floor plans that are spacious, well designed and range in size from approximately 550 to 1,200 square feet. Interior unit features include fully appointed kitchens with full-size electric appliances, new contemporary cabinetry and counter tops, wood-plank vinyl flooring, mini blinds, new contemporary bathroom vanities with premium lighting and walk-in closets in select units. The property is situated on just under one acre and features low-water-use desert landscaping with mature shade trees. Exterior amenities include covered parking, exterior lighting and an on-site laundry facility. Mount Crescent offers an investor the rare opportunity to acquire a value-add property located in a rapidly improving North Mountain location priced below $77,000 per unit. Over the last year, the North Mountain submarket average rental rates have increased by more than 12%, far greater than the Metropolitan Phoenix Average. Furthermore, the vacancy has decreased by 64 basis points over the last quarter.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 5 | $650.00 | 550 |
| 1+1 | 16 | $735.00 | 600 |
| 2+1 | 3 | $895.00 | 850 |
| 3+2 | 2 | $1,075 | 1,200 |
Property Taxes
| Parcel Number | 159-29-015 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $75,650 |
Property Taxes
