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3815 N 16th St
Phoenix, AZ 85016
Rise at Midtown · Multifamily Property For Sale
·
200 Units
PROPERTY FACTS
| No. Units | 200 | Building Size | 203,530 SF |
| Property Type | Multifamily | Average Occupancy | 81% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1981 |
| Building Class | C | Parking Ratio | 2.12/1,000 SF |
| Lot Size | 5.73 AC | ||
| Zoning | R-5/ C-2 | ||
| No. Units | 200 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 5.73 AC |
| Building Size | 203,530 SF |
| Average Occupancy | 81% |
| No. Stories | 2 |
| Year Built | 1981 |
| Parking Ratio | 2.12/1,000 SF |
| Zoning | R-5/ C-2 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- High Speed Internet Access
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Walk-In Closets
- Vinyl Flooring
- Large Bedrooms
- Quartz Countertops
SITE AMENITIES
- Business Center
- Courtyard
- Laundry Facilities
- Picnic Area
- Pool
- Property Manager on Site
- Spa
- Gated
- Pet Play Area
- Walking/Biking Trails
- Maintenance on site
ABOUT 3815 N 16TH ST , PHOENIX, AZ 85016
Avenel on 16th presents the opportunity to acquire a professionally owned and managed garden-style community with substantial value-add upside, strategically located in a dynamic Midtown Phoenix submarket. Phoenix continues to experience unprecedented job growth and major economic developments in the area, which are fueling robust demand for multifamily housing in the submarket. The asset is poised for significant revenue growth via organic market rent increases; currently asking rents are below market. Investors have a tremendous opportunity to increase revenue and value by improving operations and continuing proven interior renovation program (currently 147 units are renovated with $200 market rent premiums).
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 28 | - | 440 |
| 1+1 | 24 | - | 625 |
| 1+1 | 24 | - | 675 - 700 |
| 1+1 | 90 | - | 700 - 900 |
| 2+2 | 34 | - | 900 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $84,295 | Total Assessment | $612,808 |
PROPERTY TAXES
