Tides at Tempe is a 26-unit garden-style apartment community located in a dynamic Tempe location that has recently been extensively renovated and repositioned with premium finishes. Built in 1964, the property is made of block construction with built-up roofs and is individually-metered for electricity.
The unit mix is comprised of studio, one and two-bedroom floor plans that are spacious, well designed and range in size from ±400 to ±825 square feet. The units have been extensively renovated with contemporary shaker style cabinetry with brushed nickel hardware, quartz countertops with white subway tile backsplashes, faux wood plank flooring, full-size stainless-steel electric appliances, contemporary bathroom vanities with premium lighting, low-flow toilets and in-suite stackable washer/dryers.
The property is situated on approximately 1.8 total acres and has attractive landscaping with both lush and faux turf, mature shade trees and low-water use desert plants. Exterior amenities include a large sparkling swimming pool, lounge area with gas barbecues, and an on-site leasing office.
Tides at Tempe offers an investor the rare opportunity to acquire an extensively renovated asset located in a dynamic Tempe location. In the second quarter of 2018, the submarket average rents averaged $1.40 per square foot, 15% higher than the metropolitan Phoenix average. Numerous economic forecasts project metro Phoenix to lead major western markets in employment and population growth through 2018, offering an investor a unique opportunity through continued rental increase.
