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Signature 18 Apartments 2014 W Berridge Ln 18 Unit Apartment Building $4,495,000 ($249,722/Unit) 6.09% Cap Rate Phoenix, AZ 85015
Investment Highlights
- Central Phoenix gated community with strong rental demand
- Updated units with stainless appliances, tile bathrooms, wood flooring, and in-unit laundry
- Recent capital improvements: landscaping, lighting, security, and exterior upgrades
Executive Summary
Signature 18 is a 100% occupied, gated 18-unit apartment community strategically located in the heart of Central Phoenix. The asset delivers immediate cash flow with a strong 7.04% in-place cap rate and offers investors a projected 6.08% pro forma cap rate upon acquisition.
The property's central infill location provides exceptional access to Abrazo Central Campus, Christown Spectrum Mall, major employment centers, public transit, and key transportation corridors, making it a compelling investment opportunity in one of Phoenix's most established rental submarkets.
Under current ownership, the property has undergone extensive improvements including new desert landscaping, repaved parking areas, refreshed exterior paint and trim, modern LED motion-sensing lighting, upgraded security cameras, and newly installed modern gate locks. Operational upgrades include roof resealing with new elastomeric coating and pool pump enhancements for long-term efficiency.
Interior renovations feature updated kitchens with stainless steel appliances, contemporary tile bathrooms, wood flooring, built-in closets, and in-unit washers/dryers in select units. These improvements increase tenant appeal and support continued rent growth.
Signature 18 offers stable cash flow, minimal deferred maintenance, and long-term upside through continued interior improvements and market rent optimization. A turn-key multifamily asset in a high-demand Phoenix submarket. Full OM and financials available upon request.
The property's central infill location provides exceptional access to Abrazo Central Campus, Christown Spectrum Mall, major employment centers, public transit, and key transportation corridors, making it a compelling investment opportunity in one of Phoenix's most established rental submarkets.
Under current ownership, the property has undergone extensive improvements including new desert landscaping, repaved parking areas, refreshed exterior paint and trim, modern LED motion-sensing lighting, upgraded security cameras, and newly installed modern gate locks. Operational upgrades include roof resealing with new elastomeric coating and pool pump enhancements for long-term efficiency.
Interior renovations feature updated kitchens with stainless steel appliances, contemporary tile bathrooms, wood flooring, built-in closets, and in-unit washers/dryers in select units. These improvements increase tenant appeal and support continued rent growth.
Signature 18 offers stable cash flow, minimal deferred maintenance, and long-term upside through continued interior improvements and market rent optimization. A turn-key multifamily asset in a high-demand Phoenix submarket. Full OM and financials available upon request.
Data Room Click Here to Access
Financial Summary (Pro Forma - 2026) 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 - 2026) 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
| Price | $4,495,000 | Building Class | C |
| Price Per Unit | $249,722 | Lot Size | 0.63 AC |
| Sale Type | Investment | Building Size | 15,200 SF |
| Cap Rate | 6.09% | Average Occupancy | 100% |
| No. Units | 18 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1961/2023 |
| Property Subtype | Apartment | Parking Ratio | 1.71/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R-4 | ||
| Price | $4,495,000 |
| Price Per Unit | $249,722 |
| Sale Type | Investment |
| Cap Rate | 6.09% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.63 AC |
| Building Size | 15,200 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1961/2023 |
| Parking Ratio | 1.71/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-4 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Kitchen
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Walk-In Closets
- Vinyl Flooring
Site Amenities
- Clubhouse
- Pool
- Gated
- Pet Play Area
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $1,225 | 600 |
| 2+1 | 6 | $1,500 | 800 |
| 3+2 | 8 | $1,925 | 1,000 |
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Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 156-13-086A | Total Assessment | $59,862 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
156-13-086A
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$59,862 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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Videos
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Photos
Street View
Street
Map
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Contact the Sale Advisor
Signature 18 Apartments | 2014 W Berridge Ln