The Collins on 27th is an 8-unit single-story boutique apartment community located in a highly desirable Camelback Corridor location that has recently been extensively renovated and repositioned with premium finishes. The property is made of block construction with pitched, composite shingle roofs and is individually-metered for electricity.
The unit mix is comprised of one and two-bedroom floor plans that are spacious, well designed and range in size from ±650 to ±900 square feet. The interiors have been extensively renovated with contemporary shaker-style cabinetry with brushed nickel hardware, quartz countertops with white subway-tile backsplashes, polished concrete flooring, full-size stainless-steel electric appliances, spacious walk-in closets and low-flow toilets. Furthermore, all the units have in-suite washer/dryers, dual pane windows, new interior/exterior doors and private patios.
The property is situated on approximately 0.42 total acres and has attractive landscaping with lush turf and low-water use desert plants. Community amenities include lighted walkways, pedestrian access gate, and dog run.
The Collins on 27th offers an investor the rare opportunity to acquire an extensively renovated asset located in a dynamic Camelback Corridor location. In the third quarter of 2018, the submarket rents averaged $1.45 per square foot, 17% higher than the metropolitan Phoenix average. Numerous economic forecasts project metro Phoenix to lead major western markets in employment and population growth through 2019, offering an investor a unique opportunity through continued rental increase.
