2602 W Glenrosa Ave
Phoenix, AZ 85017
IN ESCROW Radius Apartments · Multifamily Property For Sale
·
72 Units
Property Facts
| No. Units | 72 | Building Size | 32,600 SF |
| Property Type | Multifamily | Average Occupancy | 94% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1979 |
| Building Class | C | Parking Ratio | 2.3/1,000 SF |
| Lot Size | 1.68 AC | ||
| Zoning | C-2 - Commercial | ||
| No. Units | 72 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.68 AC |
| Building Size | 32,600 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built | 1979 |
| Parking Ratio | 2.3/1,000 SF |
| Zoning | C-2 - Commercial |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
- Laundry Facilities
- Tenant Controlled HVAC
- Gated
- Online Services
- Walk-Up
- Smoke Detector
About 2602 W GLENROSA AVE , PHOENIX, AZ 85017
PROPERTY TOURS BY APPOINTMENT ONLY - DO NOT DISTURB TENANTS. The Radius Apartments is an ALL-INCLUSIVE multi-family asset offering the full spectrum of utilities and services. Rents include water, sewer, trash, HVAC, heating, electric cable, HBO and Showtime.. Ownership has invested in significant recent capital upgrades including all new exterior stucco and paint, and new roofs on all buildings. Most units have received new flooring, new cabinetry, new lighting and fixtures. The unit mix consists of studios, 1/1, and 2/1 units. The remodeled leasing office welcomes prospective tenants to the property. This restricted-access property utilizing rigid tenant selection criteria contributes to a more comfortable environment for the tenants. Responsible operation of the asset has generated predictable and solid revenues for ownership. This income stream is offered at a 7.41% CAP using owner's 12-month trailing income and expenses. By simply bringing rents at the property to the new advertised rates will result in in a 9% CAP RATE!!! With the full utilities package provided, the current rents at the are STILL significantly BELOW market.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 48 | $560.00 | 370 |
| 1+1 | 22 | $660.00 | 560 |
| 2+1 | 2 | $760.00 | 700 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $13,546 | Total Assessment | $126,523 |
Property Taxes
