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San Tome Apartments 1724 E Ocotillo Rd 28 Unit Apartment Building $6,370,000 ($227,500/Unit) 5.37% Cap Rate Phoenix, AZ 85016
Investment Highlights
- 28-Unit, Patio-Style Living, Built in 1963
- 26 Units Feature Large Private Backyards
- Located in Uptown Phoenix, Conveniently Situated Near Uptown Plaza, Biltmore District, Restaurant Row & the Arizona Biltmore Golf Club
- Open Floorplans With Breakfast Bar, Shaker Cabinets, Stainless Steel Appliances, & More
- All Units Equipped With Brand New Sliding Glass Doors & Windows, Many Units Have Newer HVAC Units
- Two (2) New On-Site Laundry Facilities That Are Paired With Smartphone for Payment
Executive Summary
Ocotillo Point is a 28-unit patio-style living property, consisting of (14) one-bedroom / one-bathroom units and (14) two-bedroom / one-bathroom units. The property is located in Northern Phoenix, just minutes north of the Biltmore District and Uptown Phoenix. Ocotillo Point is in a great location with a multitude of local area amenities including Piestewa Peak Park, Sprouts Farmers Market, the Arizona Canal Trail, the Arizona Biltmore Golf Club, Culinary Dropout, and much more. The property also has easy access to the Valley Metro Light Rail and is conveniently located near the 51 Freeway. Ocotillo Point was built in 1963 and consists of seven (7) fourplexes. Each unit includes an open layout with a breakfast bar, large storage closets, countertops, white shaker cabinets, and stainless-steel appliances. The property hosts two (2) new on-site laundry facilities that conveniently pairs up with smartphones for easy payment. Each unit on the property includes brand new sliding glass doors, windows, private backyard with fenced patios excluding 2 units. The property also features individual water heaters for each unit, all electricity and no gas on the property. Based on the area's redevelopment efforts, Ocotillo Point has attracted a younger, more hip tenant demographic than seen in the past. The central location of Ocotillo Point makes it one of the most accessible communities in 85016 and is the perfect opportunity for an investor to create an ideal living experience in Northern Phoenix.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Pro Forma - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Refrigerator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 14 | $1,090 | 635 |
| 2+1 | 14 | $1,465 | 800 |
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Bike Score®
Very Bikeable (73)
Property Taxes
| Parcel Number | 164-34-012F | Total Assessment | $16,214 |
| Land Assessment | $0 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 |
Property Taxes
Parcel Number
164-34-012F
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$16,214
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Street
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San Tome Apartments | 1724 E Ocotillo Rd
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