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22469054
22469055

3601 N 5th Ave, Phoenix, AZ 85013

RB
AZ SA031210000
Marcus & Millichap - Phoenix
Listed by Marcus & Millichap - Phoenix
$5,500,000
438 days on market
Updated 81 days ago

Shorewood

Details
APN 118-29-005E
Property Type Multifamily
Sub Type Apartment Building
Net Rentable (SqFt) 20,720
Units 21
Cap Rate 5.48%
NOI $301,782
Class B
Year Built 1960
Year Renovated 2019
Stories 2
Lot Size (SqFt) 30,231

Fully renovated property in impeccable location.

Marketing description

Marcus & Millichap is pleased to announce the opportunity to acquire Shorewood Apartment Homes - a completely renovated apartment community that boasts mid-century art deco style architecture modernized to fit the young professional tenant base the property now attracts. Given its location in the sought after Midtown Central Phoenix Corridor and scope of remodel, coupled with current stabilized rental rates due to the inclusion of full-size washers and dryers in all units, Shorewood provides a remarkable opportunity for continued long-term value.

Investment highlights

-Full Size Ensuite Washer & Dryer

-Stainless Steel Appliances

-Built In Microwaves

-Security Screen Doors

-Walk In Closets

-Additional Storage

-Assigned Covered Parking

-Gated Courtyard

-Private Balcony/Patios

-Over $380,000 Spent on Capital Projects Since 2021

Listing Contacts

RB
AZ SA031210000
Marcus & Millichap - Phoenix
Listed by Marcus & Millichap - Phoenix

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$301,782.00
$25,148.50/mo

Valuation Metrics

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DSCR
5.49%
Cap Rate
5.49%
ROI

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