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Villa Siena Apartment Homes 3141 N 37th St 14 Unit Apartment Building $3,340,000 ($238,571/Unit) 5% Cap Rate Phoenix, AZ 85018
Investment Highlights
- Renovated multifamily community including in-suite washer and dryers. Located within Phoenix's coveted Arcadia Lite submarket.
- Attractive acquisition basis considerably below the relevant comp-set.
- Unit mix entirely comprised of two-bedroom floorplans featuring spacious private backyards and covered direct-access parking.
Executive Summary
Built in 1967 and renovated in 2019, Villa Siena is entirely comprised of two-bedroom, one-bathroom floorplans. The clean, modernized interiors have been renovated with stainless steel appliances, quartz countertops, new shaker cabinets, wood-style vinyl flooring, and in-suite individual washers and dryers. Each unit also features a spacious private backyard and two tandem covered parking spots offering each resident direct access to their adjacent unit. Future ownership has the opportunity
of capitalizing on the ability to acquire a turn-key asset in a top-tier location at a basis significantly lower than the relevant comp-set.
of capitalizing on the ability to acquire a turn-key asset in a top-tier location at a basis significantly lower than the relevant comp-set.
Property Facts
| Price | $3,340,000 | Building Class | C |
| Price Per Unit | $238,571 | Lot Size | 0.88 AC |
| Sale Type | Investment | Building Size | 11,900 SF |
| Cap Rate | 5% | Average Occupancy | 100% |
| No. Units | 14 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1967/2019 |
| Property Subtype | Apartment | Parking Ratio | 2.18/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | R-3, Phoenix | ||
| Price | $3,340,000 |
| Price Per Unit | $238,571 |
| Sale Type | Investment |
| Cap Rate | 5% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.88 AC |
| Building Size | 11,900 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1967/2019 |
| Parking Ratio | 2.18/1,000 SF |
| Zoning | R-3, Phoenix |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 14 | - | 850 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 127-23-048 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $58,379 |
Property Taxes
Parcel Number
127-23-048
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$58,379
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