Denton Apartments Denton Apartments is a 28-unit garden-style apartment community located in a prestigious north central Phoenix location. The property is situated between Missouri Avenue and Camelback Road just west of 15th Avenue. Built in 1979, the property is made of block construction with flat roofs and is individually-metered for electricity.
The unit mix is comprised of one and two-bedroom floorplans that are extremely spacious, very well designed and range in size from 685 to 890 square feet. Interior unit features include ceramic tile or faux wood-plank vinyl flooring, full-size electric appliances, ceramic tile shower surrounds and spacious walk-in closets.
The property is situated on approximately 0.87 acres and has attractive desert landscaping with low water use plants. Exterior amenities include an attractive courtyard with a large sparkling swimming pool, covered parking, and on-site laundry facility.
Denton Apartments offers an investor a true value-add opportunity by upgrading interior finish levels and potentially adding in-suite washer and dryers. Similar communities within the competitive set that have been highly renovated have rent premiums of over two-hundred dollars per unit. In
the fourth quarter of 2017, the submarket rents averaged $1.03 and have increased 10% year-over-year. Numerous economic forecasts project metro Phoenix to lead major western markets in employment and population growth through 2018, offering an investor the potential for additional revenue enhancement through continued rental increase.
