7625 N 19th Ave
Phoenix, AZ 85021
Station 19 · Multifamily Property For Sale · 61 Units

ABI Multifamily is pleased to announce the exclusive representation of the Station 19, a 61-unit, fully repositioned garden-style apartment community in Phoenix, AZ. Station 19 was built in 1968, fully renovated in 2019 and currently offers a unique unit mix of (74%) 2-bedroom/2-bathroom and (26%) 3-bedroom/2-bathroom unit types. Each unit is individually metered for electricity and boasts an average square footage of 1,135SF. This gated community offers controlled access, covered parking, a sparkling swimming pool, laundry facilities, in-suite laundry in select units, children’s playground with picnic area and a beautiful leasing office. Improvements made over 2018-2019 include repositioning the exterior of the property with a new leasing office, replacement of the main sewer line, modern paint colors, new architectural shingled roofs, installation of a new courtyard and pergola, desert landscaping, carports, parking lot asphalt with striping, and a beautiful pool and pool house that were built in 2015. The interiors were fully renovated with new vinyl floors, stainless steel appliances, granite countertops, brushed nickel fixtures, and in-suite washer and dryers in 20 of the 61 total units (32%). Current ownership is achieving ~$100/unit rent increases on the units with washers and dryers at an installation cost of ~$4,000/unit (~30% ROI). A new Buyer has the opportunity to capitalize on additional rental income by installing washers and dryers in the remaining 41 units (68%)