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Downtown Lofts 377 N 4th Ave 13 Unit Apartment Building $2,500,000 ($192,308/Unit) Phoenix, AZ 85003
Investment Highlights
- Extensively Renovated Community with Best-in-Class Finish Levels (Over $50,000 per unit in Total Capex Costs)
- Unique Development Opportunity for 118 Proposed Units Under Existing Zoning Rights
- Dynamic Downtown Phoenix Location with Proximity to Core Employment Corridors
- Significant Mark-to-Market Opportunity in Downtown Phoenix
- The Offering Includes an Existing 2,250 SF Historic Home that can be Renovated
- Excellent Nearby Amenities Including Park Central Mall and Downtown Phoenix
Executive Summary
JLL is pleased to introduce Downtown Lofts, a 13-unit garden-style multifamily community located in a desirable Downtown Phoenix location that was completely rebuilt and repositioned in 2025. The property is made of block construction with built up foam roofs and is individually metered for electricity. The unit mix is comprised of 100% one-bedroom/one-bath floor plans that average nearly 630 square feet. 10 out of the 13 units were extensively renovated in 2025 and feature new teal shaker cabinetry with matte black hardware, quartz countertops, stainless steel appliances, in-suite washers/dryers, vinyl wood plank flooring, and tile shower surrounds. Exterior renovations include new
roofs, HVAC systems, plumbing, electrical, hot water heaters, windows, and fresh paint, representing a total investment of approximately $700,000. The property is situated on approximately 0.40 acres and has minimal, low maintenance landscaping.
roofs, HVAC systems, plumbing, electrical, hot water heaters, windows, and fresh paint, representing a total investment of approximately $700,000. The property is situated on approximately 0.40 acres and has minimal, low maintenance landscaping.
Property Facts
| Price | $2,500,000 | Building Class | B |
| Price Per Unit | $192,308 | Lot Size | 0.26 AC |
| Sale Type | Investment | Building Size | 8,200 SF |
| No. Units | 13 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1951/2025 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise |
| Price | $2,500,000 |
| Price Per Unit | $192,308 |
| Sale Type | Investment |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.26 AC |
| Building Size | 8,200 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1951/2025 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 13 | $1,275 | 595 - 750 |
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Moderately walkable
60/100
Very drivable
80/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $1,061 | Total Assessment | $16,189 |
Property Taxes
Parcel Numbers
Land Assessment
$1,061
Improvements Assessment
$0
Total Assessment
$16,189
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