Zen On 50 2015 N 50th St 55 Unit Apartment Building $24,500,000 ($445,455/Unit) Phoenix, AZ 85008

Zen on 50 Townhomes is a 55-unit townhome community in the East submarket of Phoenix, AZ. Situated between 48th Street and 52nd Street just south of East Thomas Road and north of East McDowell Road, the property sits less than three-and-a-half miles from Phoenix Sky Harbor international airport, approximately four miles from Downtown Tempe, and approximately seven miles from Downtown Phoenix. Residents enjoy a premium, central location with multiple access points to all areas of Phoenix by way of the Red Mountain Freeway (Loop 202), Piestewa Freeway (State Route 51), Pima Freeway (State Route 101), Hohokam Expressway (State Route 143), and the Papago Freeway (Interstate 10). Immediate neighborhood conveniences and services include: Fry’s Food and Drug, Target, Costco Wholesale, Chase Bank, CVS, Walgreens, and Walmart Supercenter.
The property is surrounded by multiple dining, entertainment, and shopping hubs which includes the Fashion Square Mall district at Old Town Scottsdale, the Mill Avenue entertainment district in downtown Tempe, and a multitude of event venues and dining options in Downtown Phoenix. Residents will have access to some of the valley’s most popular local destinations within a 15-minute drive. Furthermore Zen on 50 rests near the base of the Papago Peak and Papago Park region of the Valley. A selection of hiking and outdoor recreational activities are within walking distance which also include the Phoenix Zoo, Desert Botanical Gardens, and a multitude of golf courses.
Zen on 50 features a total of 55 townhome units arranged in 9 two-story buildings with wood-frame construction, stucco exterior finishes, and flat roofs situated on approximately 3.61 acres of land. The property features a premium mix of 39 two-bedroom / two-and-a-half bathroom and 16 three-bedroom / three-bathroom townhome-style units with a weight average of 1,112 square feet. Common area amenities include: swimming pool and spa, fitness center, barbecue grills, electric vehicle charging stations, open space zen garden, and gated entry. Each unit is individually metered for electricity and select units feature washer and dryer appliances. Interior amenities include: air conditioning / heating, vinyl-wood flooring, walk-in closet, ceiling fans, extra storage, and fully equipped kitchens with stainless steel appliance package which includes: refrigerator, oven / stove, dishwasher, pantry, island kitchen, and breakfast nooks. All units are provided with direct-access two-car garages.
Significant employers in close proximity to the property include the numerous companies located in Midtown and Downtown Phoenix as well as Arizona State University, The Phoenician Resort, Shamrock Foods Company, and Sky Harbor International Airport.