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Brownstones at the Biltmore 2608 E Turney Ave 11 Unit Apartment Building $5,775,000 ($525,000/Unit) 5.35% Cap Rate Phoenix, AZ 85016
Investment Highlights
- 11 Unit Boutique Luxury Brownstone Townhome Community in the Heart of the Biltmore
- 100% Occupied with a Waiting List | Average Rent in Place of $3,352
- Gated Community, Each Townhome with its own 2 Car Garage and Large Private Patios
- 3 and 4 Bedroom, 3 1/2 Bath Townhome at 2,530 SF
- Three Level Townhomes with Basements, Quality Construction and Modern Features
- Irreplaceable Biltmore Location and Camelback Corridor Financial District
Executive Summary
With its unmatched Biltmore location, East Coast Brownstone architectural charm, and the largest townhome floorplans in the Biltmore submarket, The Brownstones at the Biltmore represents one of the most exclusive boutique multifamily opportunities in Phoenix.
INTERIOR FEATURES AND AMENITIES
LIVING ROOM
• Expansive open floor plan with 12-foot ceilings
• 8-foot windows and dual sliding glass doors for natural light
• Waterproof custom wood flooring
• 4-inch baseboards and custom crown molding
• Remote-controlled dual-draft ceiling fans
• Upgraded lighting fixtures
KITCHEN
• Designer European cabinetry (42”)
• Modern granite countertops with large island and bar seating
• Sleek tile backsplash
• Stainless steel undermount sink with retractable accordion gooseneck faucet
• Premium stainless steel appliances, including built-in refrigerator, microwave, dishwasher, and gas cooktop
• Recessed and upgraded lighting
• Custom crown molding
• Waterproof custom wood flooring
MASTER BEDROOM AND BATHROOM
• Spacious master suite retreat
• Custom stone gas fireplace
• Dual walk-in closets
• 4-inch baseboards and crown molding
• Faux wood blinds
• Remote-controlled dual-draft ceiling fans
• Luxury master bath with walk-in shower (glass door, 24”x24” tile surround)
• Large Roman tub with tile surround
• Extended dual vanity with granite or quartz countertops and custom cabinetry
• Modern stainless steel faucets and fixtures
• Recessed lighting
• Separate water closet with low-flow toilet
• 24” x 24” modern tile flooring
BASEMENT / DEN / GUEST SUITE
• Large basement with second living room / den
• Full bedroom and bathroom
• Spacious walk-in laundry with built-in cabinets, full-size washer & dryer, and separate sink
• Recessed lighting, 4-inch baseboards, and remote-controlled dual-draft ceiling fans
SEPARATE GUEST ROOM / IN-LAW SUITE / OFFICE
• 500 SF Detached Guest Room, In-Law Suite, or Office above Garage
• 24” x 24” Modern Tile Flooring and 4” Baseboards
• Full Bathroom with Tile Shower Surround & Upgraded Fixtures
• Remote-Controlled Dual-Draft Ceiling Fans
• Large Windows and Skylight for Natural Light
QUALITY CONSTRUCTION AND MODERN TECHNOLOGY
TOWNHOME AND COMMUNITY AMENITIES
• Private gated community
• Large private patios with block stucco walls and modern pavers
• Oversized luxury Victorian-style front doors with stained glass
• Two-car garages, oversized
• Beautifully landscaped with native desert plants, rocks, cacti, and trees
QUALITY CONSTRUCTION & MODERN TECHNOLOGY
• European-style 3-story walk-up brownstones
• Concrete block construction with spray foam roofing (R6 rating)
• Upgraded foam insulation for energy efficiency and noise reduction
• 14 SEER HVAC heat pumps with insulated ducts
• Individually sprinklered for fire suppression
• Copper plumbing, ABS sewers, 150 AMP electrical panels
• Modern technology: Nest thermostats, video doorbells, keyless entry, Bluetooth garage openers in select units
• Electric car chargers in select garages
INTERIOR FEATURES AND AMENITIES
LIVING ROOM
• Expansive open floor plan with 12-foot ceilings
• 8-foot windows and dual sliding glass doors for natural light
• Waterproof custom wood flooring
• 4-inch baseboards and custom crown molding
• Remote-controlled dual-draft ceiling fans
• Upgraded lighting fixtures
KITCHEN
• Designer European cabinetry (42”)
• Modern granite countertops with large island and bar seating
• Sleek tile backsplash
• Stainless steel undermount sink with retractable accordion gooseneck faucet
• Premium stainless steel appliances, including built-in refrigerator, microwave, dishwasher, and gas cooktop
• Recessed and upgraded lighting
• Custom crown molding
• Waterproof custom wood flooring
MASTER BEDROOM AND BATHROOM
• Spacious master suite retreat
• Custom stone gas fireplace
• Dual walk-in closets
• 4-inch baseboards and crown molding
• Faux wood blinds
• Remote-controlled dual-draft ceiling fans
• Luxury master bath with walk-in shower (glass door, 24”x24” tile surround)
• Large Roman tub with tile surround
• Extended dual vanity with granite or quartz countertops and custom cabinetry
• Modern stainless steel faucets and fixtures
• Recessed lighting
• Separate water closet with low-flow toilet
• 24” x 24” modern tile flooring
BASEMENT / DEN / GUEST SUITE
• Large basement with second living room / den
• Full bedroom and bathroom
• Spacious walk-in laundry with built-in cabinets, full-size washer & dryer, and separate sink
• Recessed lighting, 4-inch baseboards, and remote-controlled dual-draft ceiling fans
SEPARATE GUEST ROOM / IN-LAW SUITE / OFFICE
• 500 SF Detached Guest Room, In-Law Suite, or Office above Garage
• 24” x 24” Modern Tile Flooring and 4” Baseboards
• Full Bathroom with Tile Shower Surround & Upgraded Fixtures
• Remote-Controlled Dual-Draft Ceiling Fans
• Large Windows and Skylight for Natural Light
QUALITY CONSTRUCTION AND MODERN TECHNOLOGY
TOWNHOME AND COMMUNITY AMENITIES
• Private gated community
• Large private patios with block stucco walls and modern pavers
• Oversized luxury Victorian-style front doors with stained glass
• Two-car garages, oversized
• Beautifully landscaped with native desert plants, rocks, cacti, and trees
QUALITY CONSTRUCTION & MODERN TECHNOLOGY
• European-style 3-story walk-up brownstones
• Concrete block construction with spray foam roofing (R6 rating)
• Upgraded foam insulation for energy efficiency and noise reduction
• 14 SEER HVAC heat pumps with insulated ducts
• Individually sprinklered for fire suppression
• Copper plumbing, ABS sewers, 150 AMP electrical panels
• Modern technology: Nest thermostats, video doorbells, keyless entry, Bluetooth garage openers in select units
• Electric car chargers in select garages
Property Facts
| Price | $5,775,000 | Building Class | B |
| Price Per Unit | $525,000 | Lot Size | 0.77 AC |
| Sale Type | Investment | Building Size | 29,728 SF |
| Cap Rate | 5.35% | Average Occupancy | 100% |
| No. Units | 11 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2011 |
| Property Subtype | Apartment | Parking Ratio | 0.74/1,000 SF |
| Apartment Style | Townhome | ||
| Zoning | R-3, Phoenix | ||
| Price | $5,775,000 |
| Price Per Unit | $525,000 |
| Sale Type | Investment |
| Cap Rate | 5.35% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 0.77 AC |
| Building Size | 29,728 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2011 |
| Parking Ratio | 0.74/1,000 SF |
| Zoning | R-3, Phoenix |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+3.5 | 9 | $3,495 | 2,531 |
| 4+3.5 | 2 | $3,595 | 2,531 |
1 1
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $44 | Total Assessment | $443,869 |
Property Taxes
Parcel Numbers
Land Assessment
$44
Improvements Assessment
$0
Total Assessment
$443,869
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Brownstones at the Biltmore | 2608 E Turney Ave
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