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Quays at Encanto 1840 W Thomas Rd 26 Unit Apartment Building $7,438,520 ($286,097/Unit) 5% Cap Rate Phoenix, AZ 85015
Investment Highlights
- 100% 2- and 3-bedroom floor plans in a mid-century architectural style, averaging ±1,010 SF and ±1,320 SF.
- Contemporary unit finishes designed to attract a higher-quality tenant profile.
- Located near the Valley Metro’s 19 and 29 bus lines and less than one mile from the I-17 freeway.
- Fully renovated community with capital improvements including stainless steel appliances and in-unit washers and dryers.
- Central Midtown Phoenix location offering swift access to major employment districts, downtown entertainment, and key transportation corridors.
- Value-add potential through an additional one-bedroom unit, creating meaningful income upside upon permit approval.
Executive Summary
Quays at Encanto is a well-located multifamily investment opportunity situated at 1840 W Thomas Rd in Phoenix, Arizona, positioned just minutes from Midtown and Downtown Phoenix. It benefits from immediate access to major arterial roads, employment centers, and everyday retail, positioning it as a convenient housing option for a broad tenant base.
The property has been fully remodeled from top to bottom with contemporary finishes and consists of well-laid-out multifamily units with functional floor plans and on-site features that support stable occupancy. With its irreplaceable central location and access to major transportation corridors, the property is well positioned for both stable cash flow and future upside in one of Phoenix’s most resilient rental submarkets.
The property has been fully remodeled from top to bottom with contemporary finishes and consists of well-laid-out multifamily units with functional floor plans and on-site features that support stable occupancy. With its irreplaceable central location and access to major transportation corridors, the property is well positioned for both stable cash flow and future upside in one of Phoenix’s most resilient rental submarkets.
Property Facts
| Price | $7,438,520 | Apartment Style | Low-Rise |
| Price Per Unit | $286,097 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.17 AC |
| Cap Rate | 5% | Building Size | 28,120 SF |
| No. Units | 26 | Average Occupancy | 88% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1962/2023 |
| Zoning | R-4, Phoenix - Residential | ||
| Price | $7,438,520 |
| Price Per Unit | $286,097 |
| Sale Type | Investment |
| Cap Rate | 5% |
| No. Units | 26 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.17 AC |
| Building Size | 28,120 SF |
| Average Occupancy | 88% |
| No. Stories | 2 |
| Year Built/Renovated | 1962/2023 |
| Zoning | R-4, Phoenix - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Wi-Fi
- Patio
Site Amenities
- Courtyard
- Fenced Lot
- Pool
- Security System
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 20 | - | 1,010 |
| 3+2 | 6 | - | 1,320 |
Property Taxes
| Parcel Number | 110-33-076 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $102,685 |
Property Taxes
Parcel Number
110-33-076
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$102,685
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Class Five Realty
Quays at Encanto | 1840 W Thomas Rd
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