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Venture on Wilson 626 S Wilson St 12 Unit Apartment Building $2,500,000 ($208,333/Unit) 5.32% Cap Rate Tempe, AZ 85281
EXECUTIVE SUMMARY
Venture on Wilson presents a rare opportunity to acquire a fully renovated 12-unit garden-style community in one of Tempe’s most dynamic and walkable neighborhoods. Originally built in 1960 and comprehensively modernized in 2019, this thoughtfully upgraded property features (10) 1-bed/1-bath units and (2) 2-bed/1-bath units, all outfitted with in-suite washers and dryers, stainless-steel appliances, shaker-style kitchen cabinetry, and subway tile backsplashes. Bathrooms have been updated with modern vanities and ceramic tile tub surrounds, offering a stylish and comfortable living experience.
The property’s block construction and mature landscaping frame a peaceful communal courtyard, fostering a quiet and inclusive community atmosphere. Units are individually metered for electricity, reducing ownership expenses and enhancing tenant convenience.
The property’s block construction and mature landscaping frame a peaceful communal courtyard, fostering a quiet and inclusive community atmosphere. Units are individually metered for electricity, reducing ownership expenses and enhancing tenant convenience.
PROPERTY FACTS
| Price | $2,500,000 | Building Class | C |
| Price Per Unit | $208,333 | Lot Size | 0.58 AC |
| Sale Type | Investment | Building Size | 7,340 SF |
| Cap Rate | 5.32% | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1960/2019 |
| Property Subtype | Apartment | Parking Ratio | 2.59/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R-3, Tempe | ||
| Price | $2,500,000 |
| Price Per Unit | $208,333 |
| Sale Type | Investment |
| Cap Rate | 5.32% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.58 AC |
| Building Size | 7,340 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1960/2019 |
| Parking Ratio | 2.59/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-3, Tempe |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Microwave
- Washer/Dryer
- Ceiling Fans
- Kitchen
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Carpet
- Yard
- Double Pane Windows
- Freezer
- Vinyl Flooring
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 10 | - | 560 |
| 2+1 | 2 | - | 700 |
1 1
Walk Score®
Very Walkable (85)
Bike Score®
Biker's Paradise (100)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $479 | Total Assessment | $47,834 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$479
Improvements Assessment
$0
Total Assessment
$47,834
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Venture on Wilson | 626 S Wilson St
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