Fringe on 32nd
Multifamily | 24 Units | $254,166/unit
Marketing description
CBRE is pleased to announce the exclusive offering of Fringe on 32nd, a 24 unit fully renovated apartment community located in central Phoenix just minutes from the Camelback Corridor and the Biltmore district. Built in 1981 and totally renovated in 2022 the previous owner spent $1.1 million in interior and exterior capital improvements. Fringe on 32nd is located just off 32nd Street north of McDowell Road, two major thoroughfares in the city with frontage along 32nd street providing excellent visibility of the asset and the 36,000 vehicles per day that pass the property. Fringe on 32nd is minutes away from iconic restaurants and entertainment venues including La Grande Orange, The Poarch, Postino’s, OSHO, Steak 44, The Capital Grille, The Breakfast Club, and the Camelback Corridor that boasts over 30,000 high paying jobs positioned in 10M SF of class A office. Also just minutes from the property is the Biltmore Fashion Park which is home to popular retailers such as Sacks on 5th Avenue, Macy’s, Ralph Lauren, Tumi, Lulu Lemmon, Arhaus Furniture, an exclusive high end gym Lifetime Fitness and many others.
Fringe on 32nd was completely renovated in 2022 down to the studs with the previous owner spending $1.1 million in capital improvements which include new custom shaker kitchen and bathroom cabinetry, new quartz countertops and backsplashes, new stainless steel appliances, built in stainless steel microwaves, dishwashers, wood-plank flooring, new interior and exterior doors, new shower and tub surrounds, modern recessed lighting, in-suite washer and dryers, new pex plumbing and wiring. Also replaced was the drywall given the building was taken down to the studs, ABS sewer lines, and all new electric hot water heaters. Exterior improvements include all new HVAC units, new foam roofs, new dual pane windows, artificial turf in the common area, new exterior lighting, a smooth stucco finish with a new modern paint scheme, covered parking, gated entryway, new asphalt for the parking area, new desert landscaping with low maintenance plants, and a new monument sign.
Investment highlights
Fully renovated down to the studs
New pex plumbing, new copper electrical wiring with new meters
New Roofs and all new HVAC units
In-Suite washer and dryers
Minutes from The Biltmore area and Shopping Center
Minutes from the financial district of Phoenix
Close proximity to iconic restaurants and entertainment venues
Well designed one and two bedroom floorplans
Frontage along 32nd Street with a 36,000 per day vehicle count
Kitchen & Living Area
In-suite stackable washer and dryers
Custom shaker cabinetry
New wood plank flooring throughout
Quartz countertops and backsplash
Stainless steel appliance package including dishwashers
New bronze kitchen and bathroom cabinet hardware
Modern recessed lighting throughout
Built in microwaves
New interior and exterior doors and dual pane windows
New blinds and mirrored sliding closet doors
Ceiling fans
New electric hot water heaters
Bathroom
New modern toilets
New shaker vanity cabinetry with marble countertops
Modern fixtures
New shower and tub surrounds
Wood plank bathroom flooring
New modern shower and sink faucets
Exterior Improvements
New modern monument sign
New copper and pex plumbing lines
New smooth stucco and modern paint scheme
ABS sewer lines
New foam roofs
All new HVAC units
Modern and low maintenance desert landscaping
Gated entryway
New asphalt parking area
Covered parking
New modern exterior lighting
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