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2323 E Van Buren St
Phoenix, AZ 85006
Sunset Sound · Multifamily Property For Sale
·
237 Units
Investment Highlights
- Opportunity Zone Location in the Central City / Sky Harbor Submarket
- 54 Units are Updated With Premium Finish Levels (Stainless Steel Appliances, White Shaker-Style Cabinetry, Quartz Countertops)
- High Demand Submarket with Strong Fundamentals (Rents Averaged $1,722 and Increased 10.53% Year-Over-Year)
- Meticulously Maintained Community with $1.2M in Exterior Capital Improvements (Pool and Clubhouse Renovations to be Completed in 60 Days)
- Proven Value-Add Opportunity (Renovated Units are Currently Attaining a Rental Premium of ±$190/Unit)
- Section 8 Rental Limits for Studio and One Bedroom Units are $1,613 and $1,760, Respectively (±$630 Higher Than the Current Average Asking Rents)
Property Facts
| No. Units | 237 | Lot Size | 5.99 AC |
| Property Type | Multifamily | Building Size | 256,849 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1977/2022 |
| Building Class | C | Tenancy | Single |
| Zoning | C-3 - C-3, Commercial | ||
| No. Units | 237 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 5.99 AC |
| Building Size | 256,849 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1977/2022 |
| Tenancy | Single |
| Zoning | C-3 - C-3, Commercial |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
Site Amenities
- 24 Hour Access
- Fitness Center
- Pool
- Smoke Free
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 228 | - | 208 |
| 1+1 | 9 | - | 417 |
Property Taxes
| Parcel Number | 115-01-025A | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $383,240 |
Property Taxes
Parcel Number
115-01-025A
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$383,240
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