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52nd Street 511 N 52nd St 6 Unit Apartment Building $1,250,000 ($208,333/Unit) Phoenix, AZ 85008
EXECUTIVE SUMMARY
52nd Street (“the property”) is advantageously situated to reach some of the Valley’s most significant submarkets within a manageable commute time allowing direct access to Arcadia, Tempe, and Scottsdale. With the Loop 202 Freeway on-ramp located 1/4 of a mile south of the property, residents have the convenience to utilize the major thoroughfares providing the ability to reach The Valley’s prominent employment corridors and lifestyle amenities with ease. The Camelback Employment Corridor, at Camelback Road & 44th Street, along with the Novus Innovation Corridor and Lake District of Tempe, are home to a large amount of the most influential and innovative corporations in the metro area. In addition, the property is minutes from the ever-popular and ultra-affluent neighborhoods found throughout Arcadia and Old Town Scottsdale, and less than 10 minutes from one of the largest colleges in the nation, Arizona State University.
52nd Street is a six-unit apartment community comprised of large two-bedroom floorplans each covering 825 square feet. Each of the units interior and the entire building’s exterior have been renovated including the addition of large gated front patios. Future ownership will have the opportunity capitalize on the current in-place, below market rents by raising lease rates to match comparable properties in the submarket.
52nd Street is a six-unit apartment community comprised of large two-bedroom floorplans each covering 825 square feet. Each of the units interior and the entire building’s exterior have been renovated including the addition of large gated front patios. Future ownership will have the opportunity capitalize on the current in-place, below market rents by raising lease rates to match comparable properties in the submarket.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $1,250,000 | Building Class | C |
| Price Per Unit | $208,333 | Lot Size | 0.30 AC |
| Sale Type | Investment | Building Size | 4,950 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built/Renovated | 1968/2020 |
| Apartment Style | Low-Rise | Parking Ratio | 2.42/1,000 SF |
| Zoning | R-4 | ||
| Price | $1,250,000 |
| Price Per Unit | $208,333 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 4,950 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1968/2020 |
| Parking Ratio | 2.42/1,000 SF |
| Zoning | R-4 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 6 | - | 825 |
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52nd Street | 511 N 52nd St
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