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Phoenix West 4323 N 27th Ave 120 Unit Apartment Building $11,400,000 ($95,000/Unit) Phoenix, AZ 85017
INVESTMENT HIGHLIGHTS
- 120 Units, Originally Built in 1974
- Located Near Grand Canyon University & Easy Access to Major Transportation Corridors (I-17, I-10, & US-60 Freeways)
- Offered All Cash / New Loan
- Unit Mix Consists of Studio (46.7%), One-Bedroom (52.5%), & Two-Bedroom (0.8%) Unit Types
- Master Metered for Electricity, Heating, Cooling, & Domestic Hot Water
- Available Individually or With the Adjacent Radius Apartments, 72 Units
EXECUTIVE SUMMARY
The Phoenix West Apartments is a 120-unit apartment community nestled in the developing West submarket of Phoenix, AZ. This property is located just south of West Camelback Road, located approximately one-mile from the high-growth economic driver that is Grand Canyon University. The ease of connectivity to the entirety of Phoenix through State Route 60, Interstate-17, and the major thoroughfare of Camelback Road places this property in a prime position to navigate to the entirety of the Phoenix valley and all it has to offer.
As of most recent Fall 2025 enrollment data projecting onto Spring 2026 , Grand Canyon University boasts a growing student body consisting of roughly 25,000 students on campus and 108,000 students online, totaling over 133,000 across all its program offerings with 17,000 students living within on-campus housing across 33 residence halls. Grand Canyon University has invested $480 million into the university thus far to improve the quality of academic offerings and student experience and is looking to spend more than $1 billion to develop its campus facilities along 33rd Avenue and Camelback Road into an impressive 400-acre complex.
The Phoenix West Apartments was built in 1974 and comprises 120 dwelling units spread across 10 two-story buildings featuring a masonry with stucco construction exterior and pitched composition shingle roofing. The community spans across an approximate 2.28 acres of land, offering a mix of 56 studio units, 63 one-bedroom units, and one two-bedroom averaging at 388 square feet. The property is master metered for electricity, heating, cooling, and domestic hot water. Interior amenities include air conditioning / heating, refrigerator, oven / stove, vinyl wood flooring, and high-speed internet access. Community amenities include on-site rental office, pool, central courtyard, on-site laundry facility, & fully gated entry
Available individually or with the adjacent Radius Apartments (72 units).
As of most recent Fall 2025 enrollment data projecting onto Spring 2026 , Grand Canyon University boasts a growing student body consisting of roughly 25,000 students on campus and 108,000 students online, totaling over 133,000 across all its program offerings with 17,000 students living within on-campus housing across 33 residence halls. Grand Canyon University has invested $480 million into the university thus far to improve the quality of academic offerings and student experience and is looking to spend more than $1 billion to develop its campus facilities along 33rd Avenue and Camelback Road into an impressive 400-acre complex.
The Phoenix West Apartments was built in 1974 and comprises 120 dwelling units spread across 10 two-story buildings featuring a masonry with stucco construction exterior and pitched composition shingle roofing. The community spans across an approximate 2.28 acres of land, offering a mix of 56 studio units, 63 one-bedroom units, and one two-bedroom averaging at 388 square feet. The property is master metered for electricity, heating, cooling, and domestic hot water. Interior amenities include air conditioning / heating, refrigerator, oven / stove, vinyl wood flooring, and high-speed internet access. Community amenities include on-site rental office, pool, central courtyard, on-site laundry facility, & fully gated entry
Available individually or with the adjacent Radius Apartments (72 units).
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $11,400,000 | Building Class | C |
| Price Per Unit | $95,000 | Lot Size | 2.28 AC |
| Sale Type | Investment | Building Size | 46,610 SF |
| No. Units | 120 | Average Occupancy | 92% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1974 |
| Apartment Style | Low-Rise | Parking Ratio | 3.8/1,000 SF |
| Zoning | R-5 | ||
| Price | $11,400,000 |
| Price Per Unit | $95,000 |
| Sale Type | Investment |
| No. Units | 120 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.28 AC |
| Building Size | 46,610 SF |
| Average Occupancy | 92% |
| No. Stories | 2 |
| Year Built | 1974 |
| Parking Ratio | 3.8/1,000 SF |
| Zoning | R-5 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Heating
- Kitchen
- High Speed Internet Access
- Oven
- Range
- Tub/Shower
- Dining Room
- Vinyl Flooring
- Window Coverings
SITE AMENITIES
- Controlled Access
- Property Manager on Site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 56 | - | 315 |
| 1+1 | 63 | - | 450 |
| 2+1 | 1 | - | 620 |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 (2025) | |
| Land Assessment | $5,753 (2025) | Total Assessment | $328,514 (2025) |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$5,753 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$328,514 (2025)
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Phoenix West | 4323 N 27th Ave
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