3025 N 32nd St | Phoenix, AZ 85018
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- LoopNet Team
3025 N 32nd St
Phoenix, AZ 85018
Retro on 32nd Street · Multifamily Property For Sale
·
61 Units
Investment Highlights
- 84% of interiors have been renovated to a premium upgrade featuring: vinyl plank flooring, new shower enclosures, new kitchen cabinets with electric
- Major Capital Items Already Addressed by Ownership: Over $1 million has been invested into capital improvements including installation of an automat
- Limited Supply Driving Demand: the property benefits from the sheer lack of supply of new construction inventory, validating the demand for renovate
- Ownership achieved a $300-$350 rent premium on the remodeled units and was able to increase the non-renovated unit’s market rents by $200-$250
- High Barriers to Submarket Entry: The gap between renting and owning in Retro on 32nd’s zip code is substantial as median home values exceed $922,00
- Opportunity to increase value by renovating the remaining 10 units to the premium renovation scope and capital on the current premiums
Property Facts
| No. Units | 61 | Lot Size | 1.02 AC |
| Property Type | Multifamily | Building Size | 23,500 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1968/2015 |
| Building Class | C | Parking Ratio | 1.9/1,000 SF |
| Zoning | R-4A, Phoenix | ||
| No. Units | 61 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.02 AC |
| Building Size | 23,500 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1968/2015 |
| Parking Ratio | 1.9/1,000 SF |
| Zoning | R-4A, Phoenix |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Disposal
- Heating
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Courtyard
- Fenced Lot
- Laundry Facilities
- Pool
- Property Manager on Site
- Spa
- Gated
- Grill
- Maintenance on site
- Online Services
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 31 | - | 300 |
| 1+1 | 28 | - | 450 |
| 2+1 | 2 | - | 800 |
Property Taxes
| Parcel Number | 127-31-011A | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $144,648 |
Property Taxes
Parcel Number
127-31-011A
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$144,648
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