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Greentree Palms 6215 N 14th St 3 Unit Apartment Building $950,000 ($316,667/Unit) 5.50% Cap Rate Phoenix, AZ 85014
INVESTMENT HIGHLIGHTS
- 3 Units, Built in 1959 / Renovated 2022
- Current Average Rent: $1,783
- Strong Occupancy History
- Unit Mix: (2) 2+1, (1) 1+1
- Renovated Interiors & Exterior
- Prime North/Central Phoenix Location
EXECUTIVE SUMMARY
Greentree Palms is a 3-unit apartment community located in the highly desirable Uptown area of North/Central Phoenix. Built in 1959, this asset has been extensively renovated and consists of (2) 2 bedroom, 1 bath units and (1) 1 bedroom, 1 bath unit. Currently the two bedroom units rent for $1,750 - $2,100 and the one bedroom unit rents for $1,550. The prime location of this asset presents a unique opportunity for an investor to live in one unit and rent out the others, operate as short term rental, or continue to operate as long term rentals.
The Uptown Phoenix Submarket features a high-income demographic that sits near one of Phoenix’s major employment corridors along Central Avenue. Additionally, this primely located asset sits just down the street from many of the best coffee shops, cocktail bars, and new restaurant concepts in the city that are located along the 7th St Corridor. Easy access to these amenities as well as areas such as the Biltmore Fashion Park and Downtown make this one of the most highly coveted areas in all of Phoenix.
David Harrington
License # CO701910000 (AZ)
Matthews Real Estate Investment Services, Inc
4110 N Scottsdale Rd Suite 100, Scottsdale, AZ 85251
(866) 889-0550
The Uptown Phoenix Submarket features a high-income demographic that sits near one of Phoenix’s major employment corridors along Central Avenue. Additionally, this primely located asset sits just down the street from many of the best coffee shops, cocktail bars, and new restaurant concepts in the city that are located along the 7th St Corridor. Easy access to these amenities as well as areas such as the Biltmore Fashion Park and Downtown make this one of the most highly coveted areas in all of Phoenix.
David Harrington
License # CO701910000 (AZ)
Matthews Real Estate Investment Services, Inc
4110 N Scottsdale Rd Suite 100, Scottsdale, AZ 85251
(866) 889-0550
PROPERTY FACTS
| Price | $950,000 | Building Class | C |
| Price Per Unit | $316,667 | Lot Size | 0.25 AC |
| Sale Type | Investment | Building Size | 2,412 SF |
| Cap Rate | 5.50% | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1959/2022 |
| Property Subtype | Apartment |
| Price | $950,000 |
| Price Per Unit | $316,667 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 2,412 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1959/2022 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | $1,550 | 612 |
| 2+1 | 2 | $1,925 | 900 |
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Greentree Palms | 6215 N 14th St
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