The Tropicana 2011 N 51st St 20 Unit Apartment Building $3,999,000 ($199,950/Unit) Phoenix, AZ 85008

Tropicana Apartments is a well-positioned, mostly renovated 20-unit multifamily community in the desirable Papago submarket of Metro Phoenix. Built in 1979 on 1.31 acres, the property offers 14,960 square feet of rentable space with a mix of floor plans averaging 748 square feet. Since 2020, the property has benefited from more than $420,000 in capital improvements, including pool refinishing, upgraded landscaping, new appliances, cabinetry, countertops, entry gate enhancements, and the installation of 15 new HVAC units, among other updates. Additional upside remains through the completion of the in-unit washer and dryer program for the final two residences, creating the opportunity to repurpose the existing laundry facility into an amenity such as Amazon lockers, vending machines, or tenant storage. Ideally situated at the crossroads of Phoenix, Scottsdale, and Tempe, Tropicana benefits from proximity to major employment centers, transit corridors, and lifestyle destinations including Sky Harbor International Airport, Arizona State University, and Papago Park. This central location and strong demand drivers make Tropicana Apartments a compelling investment opportunity in one of the Valley’s most dynamic markets.