3030 N 35th Ave
Phoenix, AZ 85017
Sunrise on 35th · Multifamily Property For Sale · 181 Units

On offer as the subject of this memorandum is a 181-unit apartment community located in the West Central Phoenix submarket of Phoenix, Arizona. Located on 35th Avenue north of Thomas Road, Verde Vista receives the benefit of 625 linear feet of exposure on 35th Avenue, which according to Maricopa Association of Governments (MAG) has traffic counts of 23,700 vehicles per day. Interstates 10 and 17 are within 1.25 miles of the property as well and transportation access is one of many rental home demand drivers in the area. As of 3Q17, the submarket that Verde Vista is located in recorded a vacancy rate of four percent, the lowest among all 31 submarkets in the Phoenix metro area. Moreover, the West Central Phoenix submarket contains 29 million square feet of commercial space in 1,474 commercial buildings with a vacancy rate of five percent. This level of commercial space speaks to the employment base in the area and Verde Vista is one of the precious few options of housing in the submarket, which has only nineteen apartment buildings of at least fifty units. Built in 1978, Verde Vista comprises mostly studio and one-bedroom units and features central cooling and heating systems and pitched tile roofs. Residents who choose to call Verde Vista home enjoy the simplicity of an all-inclusive rental rate and the simplicity of the living experience offered by this community. Two swimming pools, common area laundry rooms, covered parking, a business center and a shaded playground area with picnic tables and barbecues round out a functional yet comprehensive amenity package prized by residents. There is a strong sense of community at Verde Vista and residents refer family and friends to this well-kept community.