Arcadia 52 Apartments 2930 N 52nd St 34 Unit Apartment Building $10,571,000 ($310,912/Unit) 5.75% Cap Rate Phoenix, AZ 85018

CBRE is pleased to present Arcadia 52, a 34-unit multifamily community located in the highly sought after Arcadia neighborhood of central Phoenix. Built in 1979 and renovated in 2020 the property is comprised of well designed studios at 500 SF, one bedroom one and a half baths at 750 SF and two bedroom one baths at 900 & 960 SF boasting an average unit size of 833 SF. Arcadia 52’s interiors are equipped with individual HVAC units, in-suite washer and dryers, dishwashers, microwaves, stainless steel appliances, modern backsplashes, quartz/granite kitchen and bath countertops and wood plank vinyl flooring. The property has highly desirable amenities including BBQ & picnic area, covered parking, onsite laundry, a pet play area and a pool.
Arcadia 52 is nestled in the Arcadia neighborhood in central Phoenix which offers an unparalleled lifestyle, blending sophisticated urban living with the charm of a close-knit community. Residents enjoy tree-lined streets, meticulously maintained homes, and stunning views of Camelback Mountain. The neighborhood boasts an array of upscale restaurants, boutique shops, and vibrant nightlife, all within easy walking or biking distance. Arcadia's central location provides convenient access to major employment centers, cultural attractions, and outdoor recreational opportunities, including hiking and biking trails. The strong sense of community, excellent schools, and overall quality of life make Arcadia a highly desirable and coveted place to call home, offering a truly exceptional living experience.
Boasting an unparalleled location, spacious units, and luxurious appointments, this property offers a significant opportunity for future growth. Current rents of $2.01 per square foot are poised for increase, as they are 12.85% below the market average, indicating a potential rental rate of approximately $2.27 per square foot or $1,911 on average.